Post Utme Greenfield University 2021 Accounting Question 8

Practice objective / multiple choice question 8 from the 2021 Post Utme Greenfield University Accounting examination.

Post Utme Greenfield University 2021 Accounting Objective / Multiple Choice

Question 8 POST_UTME_GREENFIELD_UNIVERSITY • 2021 • ACCOUNTING • objective

A company's balance sheet shows a 'Control Account' for its 'Accounts Payable' account. What is the purpose of this control account?

Answer Options

A. To record the company's liabilities.

B. To record the company's assets.

Correct Answer C. To reconcile the company's trial balance with its financial statements.

D. To record the company's equity.

Correct Answer

Correct Option:

To reconcile the company's trial balance with its financial statements.

About This Question

This is Post Utme Greenfield University 2021 Accounting Question 8. It is one of the objective questions from the 2021 Post Utme Greenfield University Accounting examination.

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