Ledgers 1
Quiz
•
Other
•
11th Grade
•
Medium
Arvinder Kaur
Used 107+ times
FREE Resource
8 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
When all the transactions related to one account are collected at one place it is called
Journal
Ledger
Trial balance
Balance sheet
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Received Rs 990 in full and final settlement of Rs 1000 rupees from Manoj.The difference of Rs 10 will be posted to
Debit side of the manuj account
Debit side of discount account
Credit side of discount account
Debit side of cash account
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Purchase goods from Lokesh of rupees 2,000 at 10% trade discount. Purchase account will be debited by
2000
2200
1800
None of these
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Debit balance of real account shows
Liability
Assests
Profit
Income
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Amount paid for Bills payable given to ram. It will be debited
Bills payable account
Ram's account
Cash account
None of these
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The process of transferring entries from books of original entry is called
Journalising
Balancing
Posting
None of these
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ledger account is prepared from
Vouchers
Trial balance
Journal
Financial statements
8.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which of the following expense is not a revenue expense
Salary
Electricity
Water
Repair of second hand machinery purchased
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