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What are the types of Control Account?
sales control account purchases control account
What are the different type of control account?
sales control account purchases control account
There are two types of control account what are they?
sales ledger control account and purnchase ledger control account
What is control account control account?
A control account is a summary of the individual accounts in the subsidiary ledger(purchases or sales ledger) :)
Format for Debtors control account and creditors control account?
debtors
Which component of Windows 7 prompt users for permission or credentials?
It is called User Account Control.
What is the nature of debenture suspense account?
Debenture Suspense is adjustment account which is prepared at the time of issue of debenture as collateral security to record the collateral issue.
What do stores do to your account besides issue a refund when you return an item?
=The store will credit your account.=
Define wages control account?
Wages control account is an account used in a management or cost accounting system, to record both direct and indirect labour cost. Using the traditional T accounts, it obviously has two sides; debit and credit. Direct labour cost are creditted to the wages control account and has its corresponding entry in the work in progress control account(debitted). Indirect labour cost will also be creditted in the wages control account and the corresponding entry in the production overhead control account.
What is an example of positive reaction to concurrent control?
An example of a positive reaction to concurrent control is when a manager identifies an issue during a project and addresses it immediately to prevent it from escalating and causing delays or cost overruns. By taking quick action and implementing control measures, the manager ensures that the project stays on track and meets its objectives.
What is a subsidiary account?
A subsidiary account is an account that is found in the subsidiary ledger. It is used to summarize the control account.
Why may a control account carries both debit and credit balances?
A control account summarizes a set of subsidiary accounts. For example, Accounts receivable may have a control account, representing total Accounts receivable, and also may have a set of subsidiary accounts, representing the amount of Accounts receivable owed by each customer/debtor. The total of all subsidiary accounts must equal the balance of the control account. Control accounts will have debit or credit balances depending on the nature of those accounts. Control accounts for assets, such as Accounts receivable or Fixed assets, will have native debit balances. Control accounts for liabilities, such as Accounts payable, will have native credit balances.
