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Thursday, 02 April 2026
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Use the following to answer the given question Creditors Control Account: ...

Use the following to answer the given question
Creditors Control Account:
\(\begin{array}{c|c} & & & N \\ \hline Bank & \text{"X"} & \text{Balanxe b/d} & 1,200 \\ Discount & 30 & \text{"Y"} & 1,800 \\ \text{Balance c/d} & 450 & & \\ \hline & & & & \hline \end{array}\)
The balance of 450 in the above accounts represents
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
  • A Trading account item
  • B Profit and loss account item
  • C Current asset
  • D Current liability
  • E Provision for discount on creditors
Correct Answer: Option D
Explanation:

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