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A Multiple Choice Quesion

Forums › FIA Forums › A Multiple Choice Quesion

  • This topic has 2 replies, 2 voices, and was last updated 4 years ago by Muhammadi.
Viewing 3 posts - 1 through 3 (of 3 total)
  • Author
    Posts
  • July 17, 2021 at 7:41 pm #628086
    Muhammadi
    Participant
    • Topics: 31
    • Replies: 59
    • ☆☆

    The following is a question from FA2 Revision Kit:

    Which one of the following source documents is summarized and posted to the general ledger?

    A. Sales returns day book
    B. Purchases day book
    C. Cash recieved day book
    D. The purchase returns day book

    The kit says C is right. The other three are posted to the receivables /payables control accounts.
    —————————————————————-
    My Thoughts

    1. I think none of the above four options
    is a source document. All of them are
    books of prime entry.

    2. I agree that the other three are posted to the receivables /payables control accounts, but these accounts are also kept in general ledger. I think all are posted to general ledger, not just C.

    I think the whole question is wrong.

    Need your help!

    Thanks! ?

    July 28, 2021 at 11:24 am #629658
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10606
    • ☆☆☆☆☆

    I agree. Very sloppy.

    July 28, 2021 at 12:59 pm #629670
    Muhammadi
    Participant
    • Topics: 31
    • Replies: 59
    • ☆☆

    Thank you!

  • Author
    Posts
Viewing 3 posts - 1 through 3 (of 3 total)
  • The topic ‘A Multiple Choice Quesion’ is closed to new replies.

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