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1. What is a Control Account?
A reconciliation of how a Balance Sheet varies from one period to the next
An item on the Balance Sheet
A type of Accounts receivable
2. What is a modeler responsible for when balancing the Balance Sheet?
Ensuring the Opening Balance Sheet balances
Balancing the movements between Net Assets and Total Equity
Balancing Net Assets and Total Equity at all times
3. If we have a Control Account with the items Accounts receivable b/f, Sales, Cash receipts and Accounts receivable c/f, which is the key item?
Accounts receivable c/f
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