Post Utme Greenfield University 2020 Accounting Question 35

Practice objective / multiple choice question 35 from the 2020 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2020 Accounting Objective / Multiple Choice
Question 35 POST_UTME_GREENFIELD_UNIVERSITY • 2020 • ACCOUNTING • objective

In a self-balancing ledger, the control account is the account that is used to record the total of all the subsidiary accounts. What is the purpose of the control account?

Answer Options

A. To provide a summary of the transactions recorded in the subsidiary accounts
Correct Answer B. To reconcile the total of the subsidiary accounts with the control account
C. To record the total of all the subsidiary accounts in the general ledger
D. To provide a detailed breakdown of the transactions recorded in the subsidiary accounts
Correct Answer
B
Correct Option:
To reconcile the total of the subsidiary accounts with the control account

About This Question

This is Post Utme Greenfield University 2020 Accounting Question 35. It is one of the objective questions from the 2020 Post Utme Greenfield University Accounting examination.

View More Post Utme Greenfield University 2020 Accounting Questions More Post Utme Greenfield University Practice Questions Back to Questions

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support