Cash paid to Creditors needed for the construction of cash account can be ascertained from __________________ .

Total creditors account

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Trading account

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Profit and loss account

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None of the above

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Solution

The correct option is D Total creditors account
Single-entry accounting is a form of bookkeeping and accounting in which each financial transaction is a single entry in a journal or transaction log. As a result, the accounting system is called, not surprisingly, a single-entry system. And, the approach is also known as single-entry bookkeeping.
In single-entry bookkeeping informations related to accounts are incomplete.
In the given question if the amount of cash paid to creditors needed for the construction of cash account is not given or not available, it can be ascertained from total creditors account.

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