6. Explain fully the method of keeping foreign customers’ accounts on the head office books and the periodic adjustment of their control account.
7. Explain the similar method of keeping creditors’ accounts.
Chapter XXXII
1. What are suspense accounts? Give several examples of different kinds of suspense accounts.
2. In what sense are valuation accounts suspense accounts?
3. What is the suspense ledger? What does its use indicate? What information should such a ledger present?
4. What is the process of hypothecating accounts receivable? What does such a practice usually indicate?
5. Discuss fully the problem of accounting for hypothecated accounts.
6. What advantage has the system of numbering accounts over that of naming them?
7. Show how a numeric-alphabetic system may be constructed.