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WAEC Financial Accounting 2019 Question 19

Question 19

Incomplete Records

In a single-entry accounting, purchases are ascertained using a

  1. A.trading account.
  2. B.debtors' control account.
  3. C.statement of affairs.
  4. D.creditors' control account.
Show the answer and explanation

Answer: D (creditors' control account.)

Explanation

Purchases are the balancing figure in a creditors' (total creditors) account.