accounting 2

A ledger is called a book of.

• Primary entry

• Final entry

• Original entry

• None of the above

From which of the following is a ledger account prepared.

• Transactions

• Journal

• Events

• None of the above

The process of transferring of items from a journal to their respective ledger accounts is called as.

• Entry

• Arithmetic

• Balancing

• Posting

The ledger column that links the entry with the journal is called as.

• J.F column

• L.F column

• Credit column

• Debit column

The left hand side of the ledger account is referred to as.

• Footing

• Credit side

• Debit side

• Balance

Ledger is a principal book that contains.

• Real accounts only

• Personal accounts only

• All accounts

• Nominal accounts only

. Accounts that have credit balance are closed by using the statement.

• By balance b/d

• By balance c/d

• To balance b/d

• To balance c/d

An account is having debit balance is established when.

• The last entry of the accounting period was posted on the debit side

• The amount of debit exceeds the amount of the credits

• There are more entries on the debit side than on the credit side

• None of above

Which of the following item will be appearing on the credit side of the ledger account?

• Discount received

• Cash received

• Rent Expenses

• Purchases

Among these, which item is used as the base for preparing trial balance?

• Cash account

• Balance sheet

• Journal

• Ledger account