Control accounts are used chiefly for _____.
A: cash
B: bad debt expense
C: receivables
D: payables
A: cash
B: bad debt expense
C: receivables
D: payables
举一反三
- To which of the following is the receivables ledger control account reconciled? A: Aged receivables analysis B: Payables ledger C: Receivables ledger D: Cash book
- Which accounts appear on which financial statement? A: Balance sheet: Receivables, land, payablesIncome statement: Revenues, supplies B: Balance sheet: Cash, revenues, landIncome statement: Expenses, payables C: Balance sheet: Cash, receivables, payables Income statement: Revenues, expenses D: Balance sheet: Expenses, payables, cash Income statement: Revenues, receivables, land
- Personal accounts are contained in the _____. A: Note receivables ledger B: account receivables ledger C: account payables ledger D: Note payables ledger
- If a firm has 25days of accounts payables outstanding and 30 days invested in inventory and their cash to cash cycle time is 80days, how many days of accounts receivables do they have? A: 105days B: 80 days C: 75days D: 50days
- Which of the following is NOT the purpose of a receivables control account? A: A receivables control account ensures that there are no errors in the personal ledger. B: A receivables control account help to locate errors in the trial balance. C: A receivables control account provides a check on the arithmetical accuracy of the personal ledger. D: Control accounts deter fraud.