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April 28, 2026, 05:21:32 am

Author Topic: How does a statement of account assist internal control of a business?  (Read 3088 times)  Share 

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asapwhat

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Tezalenko

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Hey there, if you still need help,
The statement of accounts could be used as a cross checking mechanism against the creditor's subsidiary ledger.
The statement of Account will assist the internal control of the given business as the balance in the creditor's Subsidiary ledger must equal the balance on the statement to ensure that the correct amounts have been paid.
This should suffice as a 2 mark answer