WAEC Accounting 2017 Objective — Question 26
Question 26 of 50 from the West African Examinations Council (WAEC) Accounting 2017 Objective paper, with the correct answer and a full explanation.
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26. The purpose of keeping Sales and Purchases Ledger Control Account is to
- A. A. match credit sales and credit purchases
- B. B. equate debtors' balance to creditors balance
- C. C. verify total debtors and total creditors balancesCorrect
- D. D. determine cash sales and cash purchases
Explanation
The control account serves as check against fraud by verifying total debtors at creditors.
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