Given:
I. Cash refunds
II. Debit note issued
III. Dishonored cheque
IV. Purchases
A. I, II and III only
B. I and II only
C. III and IV only
D. I, III, and IV only
Correct Answer:
Option D – I, III, and IV only
Explanation
Purchases control account it is also called total creditor control account
I, II & IV: some of the items that appear on the credit side of the purchases ledger are cash refund to the supplier, dishonored cheque by banks and credit purchases
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