Chapter 4: LedgerMarch 18, 2024 Maven Leave a Comment Welcome to your Chapter 4: Ledger Name Email 1. The process of finding the new amount from the totals of debit and credit columns in a ledger is known as: Casting Posting Journalising Balancing None 2. J.F means: Ledger page number Journal page number Voucher number Order number None 3. The process of transferring the debit and credit items from journal to ledger accounts is called: Casting Posting Journalising Balancing None 4. If the total of the debit side of an account exceeds the total of its credit side, it means: Credit balance Debit balance Nil balance Debit and credit balance None 5. The amount brought into the business by the proprietor should be credited to: Cash account Drawings account Capital account Suspense account None 6. Main objective of preparing ledger account is to: Ascertain the financial position Ascertain the profit or loss Ascertain the profit or loss and the financial position Know the balance of each ledger account None Time's upRelated Posts:Chapter 1: Introduction to Micro EconomicsChapter 2. Consumption AnalysisChapter 3: Production AnalysisChapter 4: Cost and Revenue Analysis
Leave a Reply