Question: Maintaining control accounts involves cross-checking the balances recorded in the subsidiary ledgers against the corresponding control accounts in the general ledger. Complete the table to
Maintaining control accounts involves cross-checking the balances recorded in the subsidiary ledgers against the corresponding control accounts in the general ledger.
Complete the table to explain the listed advantages of maintaining control accounts:
Advantages | Response |
|---|---|
Enhanced error detection | |
Strengthened internal controls | |
Streamlined trial balance preparation | |
Simplified final accounts preparation | |
Improved staff accountability |
(Approximate word count: 100 - 150 words).
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