Accounting for IGCSE & O level - Accounting Procedures (Section 9 - No. 34)
In the context of preparing control accounts, which of the following is the primary function of a purchases ledger control account?
To record individual transactions with suppliers.
To serve as the source document for the purchases journal.
To provide a summary of trade payables.
To track cash payments made to suppliers.
Explanation
A purchases ledger control account provides a summary of trade payables.
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