Accounting Multiple Choice Question – 2 March 2022

Which statement is not correct about the benefit to a business of maintaining control accounts?

Select ONE answer:

1. ensures that all types of errors can be detected
2. helps in the preparation of financial statements
3. provides immediate totals of trade receivables and trade payables
4. reduces risk of fraud as jobs are performed by different staff members

Show your workings to arrive at your answer, and explain and justify your reasons:

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This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 1

1. Correct
2. Not correct
3. Not correct
4. Not correct

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