Tag: meaning and importance of ledger

Questions Related to meaning and importance of ledger

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 in Suppliers A/c

  2. Advance from Customers A/c

  3. Provision for Doubtful Debts A/c

  4. Provision for Depreciation A/c

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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. Creditors

  2. Stock of Raw-materials

  3. Debtors

  4. Stock of Finished Goods

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Correct Option: A

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. Ram's A/c

  2. Ram & Sons A/c

  3. Ram & Sons Ltd A/c

  4. ICICI Bank A/c

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Correct Option: A

Loan from Mahesh 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: 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. Interest A/c

  2. Outstanding Interest A/c

  3. Advance Interest A/c

  4. Accrued Interest A/c

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Correct Option: A

Bank Interest charged 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. 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