- 1 Marks
FA – May 2022 – L1 – SA – Q19 – Control Accounts
Identify the principal function of a sales ledger control account.
Question
The principal function of a sales ledger control account is to:
A. Serve as external check and provide quick information for the preparation of interim financial statements
B. Serve as internal check and provide quick information for the preparation of interim financial statements
C. Check sales fraud
D. Provide quick information for the control of salesmen’s activities
E. Provide quick information for the preparation of customer’s statements
Find Related Questions by Tags, levels, etc.
- Tags: Control Accounts, Interim Financial Statements, Sales Ledger
- Level: Level 1
- Topic: Control Accounts
- Series: MAY 2022
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