WAEC Accounting 2019 Objective — Question 39
Question 39 of 50 from the West African Examinations Council (WAEC) Accounting 2019 Objective paper, with the correct answer and a full explanation.
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Set-off is carried out in the control account when
- A. a business organization is both a customer and a supplierCorrect
- B. customers refuse to pay their debts
- C. the debtors settle their accounts
- D. customers cheques are dishonoured
Explanation
Set off in the control account is used to write off debts and credits when a single entity is a supplier as well as customer to the organisation.
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