GCEFinancial AccountingControl Accounts2023

Which of the following is the MAIN purpose of a control account?

ATo record all credit transactions in the business
BTo verify the accuracy of the ledger by acting as a check on the individual accountsCORRECT
CTo replace the need for a trial balance in the accounting system
DTo record cash transactions separately from credit transactions
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Why the answer is B, and why the others tempt you.
A control account serves as a memorandum account that summarises all transactions in a subsidiary ledger, thereby acting as a check on the accuracy of individual personal accounts. If the balance on the control account agrees with the total of the individual balances in the subsidiary ledger, it confirms the ledger is arithmetically correct. It does not replace the trial balance nor is it limited to recording only credit or cash transactions.
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