Accounting for IGCSE & O level - Accounting Procedures (Section 17 - No. 9)
Which of the following statements is correct regarding the Purchases Ledger Control Account?
It summarizes sales to customers on credit.
It controls and summarizes all transactions with suppliers.
It records cash received from sales.
It is used to track individual customer balances.
Explanation
Purchases ledger is all transactions relating to purchases from suppliers.
Comments (0)
