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Given: I. Cash refunds II. Debit note issued III. Dishonored cheque IV. Purchases The item...

Accounts - Principles of Accounts
JAMB 2017

Given:
I. Cash refunds
II. Debit note issued
III. Dishonored cheque
IV. Purchases
The item on the credit side of purchases ledger control account includes
  • A. I,II and III only
  • B. I and II only
  • C. III and IV only
  • D. I, III and IV only
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Correct Answer: Option D
Explanation
Purchases control account it is also called total creditor control account
I,II & IV : some of the items that appear on the credit side of purchases ledger are cash refund to supplier, dishonored cheque by banks and credit purchases

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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
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Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts

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NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group
NECO June/July 2024 - Get offline past questions & answers - Download objective & theory, all in one app 48789
Post-UTME Past Questions - Original materials are available here - Download PDF for your school of choice + 1 year SMS alerts
Join your school's WhatsApp group