Ledger Welcome to your Ledger A ledger is called a book of. Primary entry Final entry Original entry None of the above If debit side of bank account is greater than credit side it represents? Cash at Bank Bank Loan Bank Overdraft None of them The payment to a creditor will? Increase one asset and decrease another Decrease an asset and decrease owner’s equity Decrease an asset and decrease a liability Increase an asset and increase a liability Credit means? Entries on the right hand side A decrease in liabilities An increase in expenses An increase in assets From which of the following is a ledger account prepared. Transactions Transactions Journal Events None of the above Ledger is a principal book in which? Only real account are kept Only personal accounts are kept All accounts are kept Only nominal accounts are kept Excess of Debit side over Credit side is called? Debit Balance Credit Balance Liability Accounts All of before Which item will appear on the credit side of ledger account? Cash received Purchases Discount received Rent Expenses Transferring information from the journal to the ledger is known as: Transferring Posting Balancing Journalizing Which of the following accounts is expected to have a debit balance? Assets Expenses Losses All of the above The collection of all accounts in a business enterprise is known as the: Ledger Balance sheet Trial balance Journal Which of the following correctly represents the sequence of the accounting cycle? Journal entry > transaction analysis > ledger account Transaction analysis > journal entry > ledger account Transaction analysis > journal entry > trial balance Transaction analysis > trial balance > ledger account Time is Up! Time's up
