Waec Model Questions Vol1 2021 Financial Accounting Question 31
Practice objective / multiple choice question 31 from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
The Trade Receivables control account shows a balance of ₦1,300,000. The subsidiary ledger for trade receivables totals ₦1,250,000. It is known that a sale of ₦45,000 was recorded in the control account but omitted from the subsidiary ledger, and a cash receipt of ₦20,000 was recorded in the subsidiary ledger but omitted from the control account. After adjusting for these items, what is the amount and nature of the remaining error in the control account?
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About This Question
This is Waec Model Questions Vol1 2021 Financial Accounting Question 31. It is one of the objective questions from the 2021 Waec Model Questions Vol1 Financial Accounting examination.
Difficulty level: Medium .
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