Waec Model Questions Vol1 2021 Financial Accounting Question 13
Practice objective / multiple choice question 13 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
The Trade Receivables Control Account for ABC Traders shows: Opening balance Dr ₦120,000 Credit sales ₦80,000 Cash receipts ₦50,000 Closing balance shown Dr ₦150,000 At the end of the period the subsidiary ledger of customers totals ₦140,000. Assuming the control account is correct, determine the amount of error in the subsidiary ledger and state the most likely nature of the error.
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About This Question
This is Waec Model Questions Vol1 2021 Financial Accounting Question 13. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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