Which of the following statements about control accounts is incorrect?
A) they provide summarised data.
B) they are included in the subsidiary ledger.
C) they apply the normal rules of debit and credit.
D) they are included in the trial balance.

Question

Quizplus · Accepted Answer

Control accounts are not included in the subsidiary ledger but they summarize the data from the subsidiary ledger. The other statements are true - control accounts apply the normal rules of debit and credit and are included in the trial balance.

Which of the Following Statements About Control Accounts Is Incorrect