* not completed

. The trade payables control account and the purchase ledger work together to ensure the accuracy of the trade payables figure in the statement of financial position.

True correct incorrect

False correct incorrect

* not completed

. The trade payables control account summarises all the transactions on the purchases system.

True correct incorrect

False correct incorrect

* not completed

. Transactions posted to the debit side of the trade payables control account increase the trade payables liability

True correct incorrect

False correct incorrect

* not completed

. Opening trade payables brought forward + invoices for credit purchases made – credit notes for cancelled purchases of goods and services bought on credit – cash paid to credit suppliers – discounts received from suppliers of goods and services on credit = closing trade payables carried forward.

True correct incorrect

False correct incorrect