Post Utme Madonna University 2022 Accounting Question 17

Practice objective / multiple choice question 17 from the 2022 Post Utme Madonna University Accounting examination.

Post Utme Madonna University 2022 Accounting Objective / Multiple Choice
Question 17 POST_UTME_MADONNA_UNIVERSITY • 2022 • ACCOUNTING • objective

What is the main difference between a self-balancing ledger and a control account?

Answer Options

A. A self-balancing ledger is used for cash transactions, while a control account is used for non-cash transactions
Correct Answer B. A self-balancing ledger is used for non-cash transactions, while a control account is used for cash transactions
C. A self-balancing ledger is used for both cash and non-cash transactions
D. A control account is used for both cash and non-cash transactions
Correct Answer
B
Correct Option:
A self-balancing ledger is used for non-cash transactions, while a control account is used for cash transactions

About This Question

This is Post Utme Madonna University 2022 Accounting Question 17. It is one of the objective questions from the 2022 Post Utme Madonna University Accounting examination.

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