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1)

Which of the following is another term for debtor control account?

A)  Sales account WRONG ANSWER

B)  Receivable account WRONG ANSWER

C)  Creditor control account WRONG ANSWER

D)  Sales ledger control account RIGHT ANSWER!!!


2)

Control accounts are most commonly used for which of the following purposes?

A)  Preparing cash flow statement WRONG ANSWER

B)  Making entries in other accounts WRONG ANSWER

C)  Accumulating the total balances of related accounts WRONG ANSWER

D)  Detecting errors in accounting records RIGHT ANSWER!!!


3)

Bad debts written off during a period of accounting are entered in which side of a control account?

A)  Debit side of creditor control a/cWRONG ANSWER

B)  Credit side of creditor control a/c WRONG ANSWER

C)  Debit side of debtor control a/cWRONG ANSWER

D)  Credit side of debtor control a/c RIGHT ANSWER!!!


4)

Which of the following accounts is used to record the cash sales

A)  Sales accountRIGHT ANSWER!!!

B)  Sales ledger control account WRONG ANSWER

C)  Debtor control account WRONG ANSWER

D)  Revised debtor control account WRONG ANSWER


5)

An account receivable was charged with the interest of $500, but no entry was made in the debtor control account. What would be the adjustment in the debtor control account?

A)  $500 will be credited in the debtor control a/c WRONG ANSWER

B)  $500 will be debited in the debtor control a/c RIGHT ANSWER!!!

C)  $1000 will be credited in the debtor control a/c WRONG ANSWER

D)  $1000 will be debited in the debtor control a/c WRONG ANSWER


6)

A check for $200 was received from Mr. Z (a debtor) and was presented to bank but the bank has dishonored it. Identity the correct treatment of check in a debtor control account?

A)  Debit control account with $200RIGHT ANSWER!!!

B)  Credit control account with $200WRONG ANSWER

C)  Credit sales ledger control a/c with $200WRONG ANSWER

D)  No treatment in control accounts WRONG ANSWER


7)

Sales of $500 were recorded twice in the sales ledger control account. What is the correct adjustment in a debtor control account?

A)  $500 will be creditedRIGHT ANSWER!!!

B)  $500 will be debitedWRONG ANSWER

C)  $1000 will be credited WRONG ANSWER

D)  $1000 will be debited WRONG ANSWER


8)

Sales return was understated by $1000. Which of the following is correct?

A)  $1000 will be debited in debtor control a/cWRONG ANSWER

B)  $1000 will be credited in debtor control a/c RIGHT ANSWER!!!

C)  NO adjustment required WRONG ANSWER

D)  $500 will be debited in debtor control a/cWRONG ANSWER


9)

$500 debit was entered as $500 credit in sales ledger control account. What’s its adjustment in the sales ledger control account?

A)  $500 should be debitedWRONG ANSWER

B)  $500 should be credited WRONG ANSWER

C)  $1000 should be debitedRIGHT ANSWER!!!

D)  $1000 should be credited WRONG ANSWER


10)

Payment of $500 was received from debtors. Which of the following statements is correct?

1. Debit account receivable control account with $500
2. Credit account receivable control account with $500
3. Debit account payable control account with $500
4. Credit account payable control account with $500

A)  1 is correctWRONG ANSWER

B)  2 is correctRIGHT ANSWER!!!

C)  3 is correctWRONG ANSWER

D)  4 is correct WRONG ANSWER






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