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SSC Financial and Cost Accounting P-1 QUESTION #6075
Question 1

What is the main objective of maintaining a sales ledger control account?

  • To guarantee that customer statements are dispatched on time
  • To keep a record of the total discounts received by the business
  • To minimize the potential for irrecoverable debts
  • To check the mathematical correctness of the individual accounts in the sales ledger✔️
Correct Answer Explanation

A control account acts as an independent check on the arithmetical accuracy of the subsidiary ledger. It verifies that the total of individual customer balances matches the total recorded in the general ledger.