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Ledger
Welcome to your Ledger
A ledger is called a book of.
Primary entry
Final entry
Original entry
None of the above
None
If debit side of bank account is greater than credit side it represents?
Cash at Bank
Bank Loan
Bank Overdraft
None of them
None
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
None
Credit means?
Entries on the right hand side
A decrease in liabilities
An increase in expenses
An increase in assets
None
From which of the following is a ledger account prepared. Transactions
Transactions
Journal
Events
None of the above
None
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
None
Excess of Debit side over Credit side is called?
Debit Balance
Credit Balance
Liability Accounts
All of before
None
Which item will appear on the credit side of ledger account?
Cash received
Purchases
Discount received
Rent Expenses
None
Transferring information from the journal to the ledger is known as:
Transferring
Posting
Balancing
Journalizing
None
Which of the following accounts is expected to have a debit balance?
Assets
Expenses
Losses
All of the above
None
The collection of all accounts in a business enterprise is known as the:
Ledger
Balance sheet
Trial balance
Journal
None
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
None
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