Wrigley Ltd Uses Subsidiary Ledgers for Debtors and Creditors

question 3

Multiple Choice

Wrigley Ltd uses subsidiary ledgers for debtors and creditors. At 1 July 2018 debtors owed $7 000 and creditors were owed $4 000. Transactions for year ended 30 June 2019 were as follows: What was the balance of the creditors control account at 30 June 2019?

• A) $11 500
• B) $6 500
• C) $6 000
• D) $5 500

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Definitions:

Cognitive Processes

The mental actions or operations involved in learning, understanding, decision-making, and problem-solving, including perception, memory, and reasoning.

Superego

A component of the mind in psychoanalytic theory that reflects moral standards learned from parents and society.

Freudian Slips

Unintentional errors in speech or action believed to reveal subconscious thoughts or desires, named after Sigmund Freud.

Repressed Material

In psychoanalytic theory, repressed material refers to memories, thoughts, or impulses that are unconsciously blocked due to being considered threatening or unacceptable by the individual.