A ledger is a book of: MCQ with Answer and Explanation

Question

Share Report Error

A ledger is a book of:

A. Rectification entry

B. Adjusting entry

C. Original entry

D. Final entry

Answer: Option D

Solution (By JKSSB Mock Tests)

The ledger is the book of final entry because transactions are ultimately classified and posted here from the journal.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Accountancy and Book Keeping Questions

Question #1

Share Report

The 'Remission of Duties and Taxes on Exported Products' (RoDTEP) scheme replaced:

A. EPCG

B. Merchandise Exports from India Scheme (MEIS)

C. SEZ scheme

D. Advance Authorisation

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option B

Explanation:
RoDTEP replaced MEIS to ensure WTO compliance, refunding embedded taxes not refunded through GST.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #2

Share Report

The 'Receipts and Payments Account' is prepared by:

A. Partnership firms

B. Non-profit organizations

C. Trading concerns

D. Companies

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option B

Explanation:
Non-profit organizations prepare Receipts and Payments Account as a summary of cash transactions.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Question #3

Share Report

Cash Flow Statement as per AS 3 classifies activities into:

A. Revenue and Capital

B. Direct and Indirect

C. Current and Non-current

D. Operating, Investing, and Financing

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
AS 3 requires classification into operating, investing, and financing activities.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

Explore All Accountancy and Book Keeping MCQs