Tag: ledger and posting

Questions Related to ledger and posting

Which account is the odd one out?

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. Goodwill A/c

  2. Patents A/c

  3. Technical know-how A/c

  4. Work-in progress

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Correct Option: D

Which account is odd one out?

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. Provision for Doubtful Debts A/c

  2. Provision for Discount on Debtors A/c

  3. Reserve for Discount Creditors A/c

  4. Provision for Depreciation Account

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Correct Option: D

Which account is the odd one out?

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. Bad Debts Account

  2. Bad Debts Recovered Account

  3. Goods destroyed by fire A/c

  4. Embezzlement A/c

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Correct Option: B

Income Tax Liability of a Proprietor paid should be debited to ________.

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. Income Ta Account

  2. Drawing Account

  3. Income Tax Payable Account

  4. Business Expenses Account

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Correct Option: B

Which account is the odd one out?

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. Advance to supplier

  2. Bills Receivable

  3. Debtors

  4. Cash

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Correct Option: D

Which account is the odd one out?

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. Work-in progress

  2. Capital Work-in progress

  3. Technical know-how

  4. Patents

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Correct Option: A

Rent paid to Ram (landlord), it should be credited to __________.

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. Rent A/c

  2. Ram

  3. Landlord A/c

  4. Cash A/c

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Correct Option: B
Explanation:

The accounting entry will be :

Rent A/c   Dr.     
  To Ram   A/c
(Being rent paid to ram)
  • Here Rent paid will be credited in Ram's account.

Which account is the odd one out?

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. Interest Received A/c

  2. Interest Receivable A/c

  3. Interest Outstanding A/c

  4. Unaccrued Interest A/c

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Correct Option: A

Cash Embezzlement 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: D

Which account is the odd one out?

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. Land

  2. Building

  3. Furniture

  4. Machinery

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Correct Option: A