Tag: ledger and posting

Questions Related to ledger and posting

Salary Account is _______________.

elements of book keeping and accountancy ledger and posting develop the understanding for posting of transactions and balancing of accounts classification of ledger (subdivision of ledger) and balancing of account meaning and importance of ledger

  1. An Asset Account

  2. A Liability Account

  3. A Revenue Account

  4. An Expenses Account

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Correct Option: D

Which of the following is an item of a debtors control account?

elements of book keeping and accountancy ledger and posting develop the understanding for posting of transactions and balancing of accounts classification of ledger (subdivision of ledger) and balancing of account meaning and importance of ledger

  1. Cash sale

  2. Credit sales

  3. Credit purchase

  4. Cash purchases

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Correct Option: C

Which of the following types of information are found in subsidiary ledgers, but not in the general ledger?

elements of book keeping and accountancy ledger and posting develop the understanding for posting of transactions and balancing of accounts classification of ledger (subdivision of ledger) and balancing of account meaning and importance of ledger

  1. Total cost of goods sold for the period.

  2. The quantity of a particular product sold during the period.

  3. The amount owed to a particular creditor.

  4. The portion of total current assets that consist of cash.

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Correct Option: B

Bill Payable Account _______________.

elements of book keeping and accountancy ledger and posting develop the understanding for posting of transactions and balancing of accounts classification of ledger (subdivision of ledger) and balancing of account meaning and importance of ledger

  1. An Asset Account

  2. A Liability Account

  3. A Revenue Account

  4. An Expense Account

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Correct Option: B

Drawing Account is in the nature of ________________.

elements of book keeping and accountancy ledger and posting develop the understanding for posting of transactions and balancing of accounts classification of ledger (subdivision of ledger) and balancing of account meaning and importance of ledger

  1. An Asset Account

  2. A Liability Account

  3. A Revenue Account

  4. A Capital Account

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Correct Option: D

Unaccrued Interest Account is _____________.

elements of book keeping and accountancy ledger and posting develop the understanding for posting of transactions and balancing of accounts classification of ledger (subdivision of ledger) and balancing of account meaning and importance of ledger

  1. An Asset Account

  2. A Liability Account

  3. A Revenue Account

  4. An Expense Account

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Correct Option: B

ICICI Bank Account is _______________.

elements of book keeping and accountancy ledger and posting develop the understanding for posting of transactions and balancing of accounts classification of ledger (subdivision of ledger) and balancing of account meaning and importance of ledger

  1. An Asset Account

  2. A Liability Account

  3. A Revenue Account

  4. An Expense Account

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Correct Option: A

Personal Income Tax Account is ______________.

elements of book keeping and accountancy ledger and posting develop the understanding for posting of transactions and balancing of accounts classification of ledger (subdivision of ledger) and balancing of account meaning and importance of ledger

  1. An Asset Account

  2. A Liability Account

  3. A Revenue Account

  4. A Capital Account

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Correct Option: D

Bill Receivable Account is _______________.

elements of book keeping and accountancy ledger and posting develop the understanding for posting of transactions and balancing of accounts classification of ledger (subdivision of ledger) and balancing of account meaning and importance of ledger

  1. An Asset Account

  2. A liability Account

  3. A Revenue Account

  4. A Capital Account

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Correct Option: A

Capital Account is in the nature of _______________.

elements of book keeping and accountancy ledger and posting develop the understanding for posting of transactions and balancing of accounts classification of ledger (subdivision of ledger) and balancing of account meaning and importance of ledger

  1. An Asset Account

  2. A Liability Account

  3. A Revenue Account

  4. A Capital Account

Show answer
Correct Option: D