Ledger - One Mark Questions

11th Standard

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Accountancy

Time : 00:30:00 Hrs
Total Marks : 10
    6 x 1 = 6
  1. Main objective of preparing ledger account is to _________

    (a)

    Ascertain the financial position

    (b)

    Ascertain the profit or loss

    (c)

    Ascertain the profit or loss and the financial position

    (d)

    Know the balance of each ledger account

  2. The process of transferring the debit and credit items from journal to ledger accounts is called _____________..

    (a)

    Casting

    (b)

    Posting

    (c)

    Journalising

    (d)

    Balancing

  3. The amount brought into the business by the proprietor should be credited to

    (a)

    Cash account

    (b)

    Drawings account

    (c)

    Capital account

    (d)

    Suspense account

  4. ___________ is known as principal book of accounts because It is very useful for a business enterprise.

    (a)

    Journal

    (b)

    Ledger

    (c)

    Balance Sheet

    (d)

    Trial Balance

  5. The financial statements can be prepared from the ____________ balances.

    (a)

    ledger

    (b)

    journal

    (c)

    trial

    (d)

    none of these

  6. Statement: Goods bought by giving cheque Find out which of the following answer is correct.

    (a)

    Purchases A/c         Dr
               To Bank A/c

    (b)

    Bank A/c    Dr
         To Purchases A/c

    (c)

    Goods A/c        Dr
            To Bank A/c

    (d)

    Cash A/c      Dr
        To Purchases      A/c

  7. 4 x 1 = 4
  8. Ledger

  9. (1)

    Original entry

  10. Journal Folio

  11. (2)

    Principal book

  12. Ledger Folio

  13. (3)

    L.F

  14. Journal

  15. (4)

    J.F.

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