JAMB Accounting 2007 Objective — Question 32

Question 32 of 46 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2007 Objective paper, with the correct answer and a full explanation.

I. Facilitating the preparation of final account II. making the existence of error easy to detect III. checking the accuracy of posting periodically. From the above, which of the followings are among the uses of control accounts?

A. I, II and III
B. I and III
C. II and III
D. I and IICorrect

Explanation

Control accounts facilitate the preparation of final accounts and help detect errors/fraud quickly; they are not primarily used to check the accuracy of posting (that is the role of the trial balance), so I and II apply.

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