Ledger MCQs

Option A: Subsidiary books

Option B: Journal

Option C: Ledger

Option D: Trial Balance

Correct Answer: Ledger ✔

Option A: Posting the letters in drop box

Option B: Posting suitable person to a suitable job

Option C: Entering in the ledger the information contained in the ledger

Option D: All the three

Correct Answer: Entering in the ledger the information contained in the ledger ✔

Option A: A sale of an asset is recorded in the Sales Book

Option B: Total of Return Outward Book is debited to Return Outward Account

Option C: The balance of Petty Cash Book is a liability

Option D: Cash Book is a subsidiary book as well as a ledger

Correct Answer: Cash Book is a subsidiary book as well as a ledger ✔

Option A: Balance c/d

Option B: Balance b/d

Option C: Balance e/d

Option D: Balance f/c

Correct Answer: Balance c/d ✔

Option A: Nominal accounts

Option B: Balance sheet accounts

Option C: Real accounts

Option D: None of them

Correct Answer: Nominal accounts ✔

Option A: Office equipment

Option B: Rent expenses

Option C: Rent income

Option D: Insurance expense

Correct Answer: Office equipment ✔

Option A: General journal

Option B: Real accounts

Option C: Ledger accounts

Option D: Cash accounts

Correct Answer: Ledger accounts ✔

Option A: Nominal

Option B: Real

Option C: Cash

Option D: Capital

Correct Answer: Real ✔

Option A: Expenses

Option B: Revenues

Option C: Capital

Option D: Drawing

Correct Answer: Capital ✔

Option A: Nominal accounts

Option B: Real account

Option C: Cash accounts

Option D: Banks account

Correct Answer: Nominal accounts ✔

Option A: Credit balance

Option B: Cash balance

Option C: Overdraft

Option D: Debit balance

Correct Answer: Debit balance ✔

Option A: Debit increases the capital account balance

Option B: Credit increases the capital account balance

Option C: Fresh capital increases the capital account balance

Option D: Net income increases the capital account balance

Correct Answer: Debit increases the capital account balance ✔

Option A: Debit balance

Option B: Credit balance

Option C: Cash balance

Option D: Neither debit nor credit balance

Correct Answer: Credit balance ✔

Option A: Credit balance

Option B: Debit balance

Option C: Cash balance

Option D: Neither debit nor credit balance

Correct Answer: Debit balance ✔

Option A: Credit balance

Option B: Debit balance

Option C: Cash balance

Option D: Neither debit nor credit balance

Correct Answer: Credit balance ✔

Option A: Credit balance

Option B: Debit and credit balance

Option C: Cash balance

Option D: Debit balance

Correct Answer: Debit balance ✔

Option A: Journal

Option B: Cash account

Option C: Ledger account

Option D: Balance sheet

Correct Answer: Ledger account ✔

Option A: Cash

Option B: Charity

Option C: Purchases

Option D: Sales

Correct Answer: Purchases ✔

Option A: Cash at bank

Option B: Bank understatement

Option C: Bank overdraft

Option D: Balance overstatement

Correct Answer: Cash at bank ✔

Option A: Bank overdraft

Option B: Cash at bank

Option C: Bank balance

Option D: Current Asset

Correct Answer: Bank overdraft ✔

Option A: Increase

Option B: Decrease

Option C: Increase or decrease

Option D: Appreciation

Correct Answer: Increase ✔

Option A: Recording

Option B: Transferring

Option C: Posting

Option D: Entry making

Correct Answer: Posting ✔

Option A: Ledger accounts

Option B: General Journal

Option C: Specialized journals

Option D: Balance sheet

Correct Answer: Ledger accounts ✔

Option A: Ledger accounts balances

Option B: Balance sheet balances

Option C: Income statement balances

Option D: Cash flow statement balances

Correct Answer: Ledger accounts balances ✔