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1. 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
2. What is a modeler responsible for when balancing the Balance Sheet?
Ensuring the Opening Balance Sheet balances
Balancing Net Assets and Total Equity at all times
Balancing the movements between Net Assets and Total Equity
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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