Accounting for IGCSE & O level - Accounting Procedures (Section 15 - No. 21)
What is the primary function of a purchases ledger control account?
To record individual supplier transactions
To provide a summary of the total amount owing to suppliers
To track individual customer payments
To calculate the total cost of goods purchased
Explanation
The purchases ledger control account provides a summary of the total amount owing to suppliers, serving as a check on the individual supplier accounts.
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