A. Ledger accounts balances
B. Balance sheet balances
C. Income statement balances
D. Cash flow statement balances
Ledger
…….. is the common base for preparing a trial balance?
A. Ledger accounts
B. General Journal
C. Specialized journals
D. Balance sheet
Transferring entries from journal to ledger account is commonly known as…………?
A. Recording
B. Transferring
C. Posting
D. Entry making
An account records the ……….. in the balance of an item?
A. Increase
B. Decrease
C. Increase or decrease
D. Appreciation
If credit side of a bank account is greater than the debit side, it indicates which of the following?
A. Bank overdraft
B. Cash at bank
C. Bank balance
D. Current Asset
If debit side of a bank account is greater than credit side it indicates which of the following?
A. Cash at bank
B. Bank understatement
C. Bank overdraft
D. Balance overstatement
……… will be credited if goods are given as charity?
A. Cash
B. Charity
C. Purchases
D. Sales
Which of the following is known as the base for preparing trial balance?
A. Journal
B. Cash account
C. Ledger account
D. Balance sheet
If debit balance is greater than creadit balance then the account blance will be……….?
A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance
The normal balance of capital account is………….?
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance