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September 23, 2019 at 12:17 pm
5:03 .. Its MrC that owes 100 not MrB
John Moffat says
September 23, 2019 at 2:45 pm
True, and thanks (although I am not going to re-record the whole lecture just for that 🙂 )
November 24, 2018 at 7:44 am
Sir,can you help me with this question?
Which of the following statements concerning the receivables ledger control account is incorrect?
D. It ensures that errors cannot occur in relation to transactions between the business and its customers.
The answer is D
November 24, 2018 at 8:53 am
In future you must ask this sort of question in the Ask the Tutor Forum, and not as a comment on a lecture.
It is incorrect because although it will find many errors, there are errors that it would not find. For example, suppose we sent an invoice to a customer for $100, but by mistake listed it in the receivables day book as being $10. The wrong figure would then be entered in the receivables ledger, and also the total in the day book would be wrong and so the wrong figure would also be entered in the receivables ledger control account. As a result, the balance on the control account will still equal to total of the list of balances, even though the figure is wrong.
August 1, 2018 at 5:03 pm
Sir,may I know what’s new in these updated lectures? I had watched your previous Control A/c lectures
August 1, 2018 at 5:46 pm
They are better recordings – the syllabus has not changed.
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