In the ledger, what is the meaning of 'c/d'? MCQ with Answer and Explanation

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In the ledger, what is the meaning of 'c/d'?

A. Current Date

B. Cash Deposited

C. Carried Down

D. Credit Debit

Answer: Option C

Solution (By JKSSB Mock Tests)

'Carried down' indicates the balancing figure at the end of a period, which will be brought down (b/d) at the start of the next period.

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Question #1

In the absence of a partnership deed, the rate of interest on loan given by a partner to the firm is:

A. 5% p.a.

B. 10% p.a.

C. 6% p.a.

D. Not allowed

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Correct Answer: Option C

Explanation:
Section 13(d) of Partnership Act provides 6% p.a. interest on partner's loan.

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Question #2

In Cost-Volume-Profit (CVP) analysis, 'Angle of Incidence' represents:

A. The angle of the fixed cost line

B. The point of zero profit

C. The angle between total sales line and total cost line above the BEP

D. The percentage of variable cost to sales

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Correct Answer: Option C

Explanation:
A wider angle of incidence on a break-even chart indicates a higher rate of profit generation once the break-even point is crossed.

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Question #3

Which of the following statements regarding a Bank Reconciliation Statement (BRS) is TRUE?

A. It updates the cash book balances.

B. It is prepared by the bank manager.

C. It is prepared on a specific date to reconcile the balances.

D. It is a part of the double-entry system.

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Correct Answer: Option C

Explanation:
A BRS is prepared by the account holder (customer) on a specific date to explain differences between the cash book and pass book. It is a statement, not an account, so it does not involve journal entries.

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