Tag: explain the meaning of ledger posting

Quizzes (0) Questions (31)

Questions Related to explain the meaning of ledger posting

Multiple choice elements of accounts ledger and posting distinction between subsidiary books and ledger explain the meaning of ledger posting methods of posting entries

__________ is a summary of all transactions relating to particular account.

  1. Balance sheet

  2. Trial balance

  3. Ledger

  4. Journal
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Ledger is the principal book of accounts. Journal is kept only to facilitate for passing the entries. All entries which are passed in journal are posted in ledger. For every account , a separate ledger is opened. Ledger is a summary of all transactions relating to a particular account.