Ledger Two Marks Question

11th Standard

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Accountancy

Time : 00:45:00 Hrs
Total Marks : 30
    15 x 2 = 30
  1. What is meant by posting?

  2. What is debit balance?

  3. What is credit balance?

  4. What is balancing of an account?

  5. Give the specimen of ledger account.

  6. What is meant by opening entry?

  7. What is compound journal entry?

  8. What is the purpose of a Ledger?

  9. Prepare Furniture A/c from the following transactions

    2016 Jan.   Rs.
    1 Furniture in hand 2,000
    1 Purchased furniture for cash 4,000
    30 Sold Furniture 400
  10. What is the purpose of Balancing the ledger accounts?

  11. Write short notes on 'Nil Balance'.

  12. A trader has been selling goods both on cash and credit bases. Most of the goods are sold on credit. The owner has lost track of 'who has to pay how much?' Is there any quick way to get this information?

  13. What is a Loose-Leaf Ledger?

  14. Explain the meaning of balancing an account.

  15. Explain nominal accounts.

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