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

A ledger is a book of:
A. Final entry
B. Rectification entry
C. Original entry
D. Adjusting entry
Answer: Option A
Solution (By JKSSB Mock Tests)
The ledger is the book of final entry because transactions are ultimately classified and posted here from the journal.

Discuss this Question (0)

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

Practice More Accountancy and Book Keeping Questions

Question #1
The 'Zero Base Budgeting' (ZBB) was first introduced in a country by:
A. USA
B. India
C. UK
D. Japan

Correct Answer: Option A


Explanation:
ZBB was popularised in the 1970s in the United States.

Question #2
Under the Companies Act 2013, the 'Independent Directors' must hold a special training. If an independent director fails to attend the training, what is the consequence?
A. No consequence, as training is optional
B. His appointment is rendered void, and he cannot be appointed as an independent director
C. He is fined ₹50,000
D. He is automatically removed from the board

Correct Answer: Option B


Explanation:
As per the Companies (Appointment and Qualification of Directors) Rules, if a person selected as an independent director fails to undergo the prescribed training, their appointment becomes void, and they are ineligible for appointment as an independent director.

Question #3
The 'Convergence' of accounting standards means:
A. Adopting IFRS as they are
B. Keeping different standards
C. No change
D. Modifying local standards to align with IFRS

Correct Answer: Option D


Explanation:
Convergence involves making domestic standards consistent with IFRS, with modifications if necessary.