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Cambridge IGCSE Accounting practice

What is the primary function of control accounts?

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MCQ

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cambridge_mcq

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Topic

Control accounts

Exam-style question

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What is the primary function of control accounts?.

  1. A.To summarize transactions
  2. B.To record daily transactions
  3. C.To prepare financial statements
  4. D.To manage cash flow

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Paper 2 structured question: Control accounts

Paper 2Structured Written Paper3 marks

Data Table

Monthly Transactions

The table below shows the transactions for the month.

Transaction TypeAmount
Credit Sales£5,000
Cash Sales£2,000
Returns£500
Irrecoverable Debts£300
Cash Discounts£200
  1. a

    Prepare the control account for sales for the month.

    Aim for approximately 3 distinct marking points.

    [3]