Chapter 4: Ledger March 18, 2024 Maven Leave a Comment Welcome to your Chapter 4: Ledger 1. J.F means: Ledger page number Journal page number Voucher number Order number None 2. The process of transferring the debit and credit items from journal to ledger accounts is called: Casting Posting Journalising Balancing None 3. 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 4. The amount brought into the business by the proprietor should be credited to: Cash account Drawings account Capital account Suspense account None 5. 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 6. 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 Time's up Related Posts:Chapter 1: Introduction to Micro EconomicsChapter 2. Consumption AnalysisChapter 3: Production AnalysisChapter 4: Cost and Revenue Analysis
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