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Ledgers 1

Total questions: 8

Worksheet time: 4mins

Name
Class
Date
1.

When all the transactions related to one account are collected at one place it is called

a)

Journal

b)

Ledger

c)

Trial balance

d)

Balance sheet

2.

Received Rs 990 in full and final settlement of Rs 1000 rupees from Manoj.The difference of Rs 10 will be posted to

a)

Debit side of the manuj account

b)

Debit side of discount account

c)

Credit side of discount account

d)

Debit side of cash account

3.

Purchase goods from Lokesh of rupees 2,000 at 10% trade discount. Purchase account will be debited by

a)

2000

b)

2200

c)

1800

d)

None of these

4.

Debit balance of real account shows

a)

Liability

b)

Assests

c)

Profit

d)

Income

5.

Amount paid for Bills payable given to ram. It will be debited

a)

Bills payable account

b)

Ram's account

c)

Cash account

d)

None of these

6.

The process of transferring entries from books of original entry is called

a)

Journalising

b)

Balancing

c)

Posting

d)

None of these

7.

Ledger account is prepared from

a)

Vouchers

b)

Trial balance

c)

Journal

d)

Financial statements

8.

Which of the following expense is not a revenue expense

a)

Salary

b)

Electricity

c)

Water

d)

Repair of second hand machinery purchased