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Quiz
1
Beginner
What is a Control Account?
A type of Accounts receivable
An item on the Balance Sheet
A reconciliation of how a Balance Sheet varies from one period to the next
Don’t know
2
Beginner
What is a modeler responsible for when balancing the Balance Sheet?
Balancing Net Assets and Total Equity at all times
Balancing the movements between Net Assets and Total Equity
Ensuring the Opening Balance Sheet balances
Don’t know
3
Beginner
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?
Sales
Accounts receivable c/f
Cash receipts
Don’t know
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