Chapter 4: LedgerMarch 18, 2024 Maven Leave a Comment Welcome to your Chapter 4: Ledger Name Email 1. 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 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 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 6. The amount brought into the business by the proprietor should be credited to: Cash account Drawings account Capital account Suspense account None Time's upRelated Posts:Chapter 5: Numerical MethodsChapter 4: Differential EquationsChapter 3: Integral Calculus IIChapter 2: Integral Calculus I
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