Accounting for IGCSE & O level - Accounting Procedures (Section 16 - No. 3)
Which of the following is a key advantage of preparing control accounts?
They record individual customer transactions.
They identify errors in the individual ledger accounts.
They help to check the arithmetical accuracy of the entries.
They are used for creating the financial statements
Explanation
Control accounts provide a total that can be reconciled to the individual accounts, ensuring accuracy.
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