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

JAMB 2023

Given:
I. Cash refunds
II. Debit note issued
III. Dishnoured cheque
IV. Purchases

The item on the credit side of purchase ledger control account includes

A. I, II and IV only
B. I and IV only
C. I and II only
D. I, II and III only

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Correct Answer: Option B

Explanation

The item on the credit side of the purchase control account or total creditor control account are: purchase (credit), cash refunds, discount withdrawn, debit note received.

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