quizzunit9

quizzunit9

1st - 5th Grade

20 Qs

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quizzunit9

quizzunit9

Assessment

Quiz

Professional Development

1st - 5th Grade

Practice Problem

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20 questions

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1.

FILL IN THE BLANK QUESTION

1 min • 1 pt

1.  The final destination of all entries made in the journal is the ledger as they are all ................(subsequence) transferred to it.

2.

FILL IN THE BLANK QUESTION

1 min • 1 pt

1.  Ledger contains financial transaction accounts related to ................. (loss) and gains, assets and liabilities.

3.

FILL IN THE BLANK QUESTION

1 min • 1 pt

1.  Ledger account provides financial information such as how much a particular person owes to or from the business, what is the value of particular asset the business ................. (possess) at a point in time.

4.

FILL IN THE BLANK QUESTION

1 min • 1 pt

1.  The information given in different ledger accounts will help the ................ (manage) in preparing budgets. It also helps the management in keeping the check on the performance of business it is managing.

5.

FILL IN THE BLANK QUESTION

1 min • 1 pt

The business always needs to know what it owes to others and what the others owe to it. The

 

ledger accounts provide this information at a glance through the account ................. (receive) and

 

payables.

6.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Ledger is an account book for recording and totaling ................ (money) transactions by

 

accounts with debits and credits in separate columns.

7.

FILL IN THE BLANK QUESTION

1 min • 1 pt

Your accounting system will have a number of subsidiary ledgers, called sub ledgers, for items such as cash, accounts receivable, and accounts ................. (pay).

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