WAEC Accounting 2014 Objective — Question 20

Question 20 of 50 from the West African Examinations Council (WAEC) Accounting 2014 Objective paper, with the correct answer and a full explanation.

An example of a self-balancing account is the

A. suspense account
B. creditor's account
C. control accountCorrect
D. debtor's account

Explanation

A control account (such as the sales ledger control account) is a self-balancing account, since it independently reconciles the totals of individual ledger accounts.

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