General Ledger (1-10)

1. If debit side of bank account is greater than credit side it represents?

(a) Cash at Bank

(b) Bank Loan

(c) Bank Overdraft

(d) None of them

Correct! Wrong!

2. The payment to a creditor will?

(a) Increase one asset and decrease another

(b) Decrease an asset and decrease owner’s equity

(c) Decrease an asset and decrease a liability

(d) Increase an asset and increase a liability

Correct! Wrong!

3. The T-account is used to summarize which of the following?

(a) Increase and decrease to a single account in the accounting system

(b) Debit and credit to a single account in the accounting system

(c) Changes in specific account balances over a time period

(d) All of the above describe how T-accounts are used by accountants

Correct! Wrong!

4. Credit means?

(a) Entries on the right hand side

(b) A decrease in liabilities

(c) An increase in expenses

(d) An increase in assets

Correct! Wrong!

5. Ledger is a principal book in which?

(a) Only real account are kept

(b) Only personal accounts are kept

(c) All accounts are kept

(d) Only nominal accounts are kept

Correct! Wrong!

6. The left hand side of account is referred to as?

(a) The Balance

(b) A Debit

(c) A Credit

(d) A footing

Correct! Wrong!

7. Excess of Debit side over Credit side is called?

(a) Debit Balance

(b) Credit Balance

(c) Liability Accounts

(d) All of before

Correct! Wrong!

8. Which item will appear on the credit side of ledger account?

(a) Cash received

(b) Purchases

(c) Discount received

(d) Rent Expenses

Correct! Wrong!

9. The process of transferring the debit and credit items from a journal to their respective account in the ledger is termed as?

(a) Balancing

(b) Posting

(c) Arithmetic

(d) Entry

Correct! Wrong!

10. Ledger is a book of?

(a) Original entry

(b) Final entry

(c) Secondary entry

(d) All cash transactions

Correct! Wrong!

1. If debit side of bank account is greater than credit side it represents?

2. The payment to a creditor will?

3. The T-account is used to summarize which of the following?

4. Credit means?

5. Ledger is a principal book in which?

6. The left hand side of account is referred to as?

7. Excess of Debit side over Credit side is called?

8. Which item will appear on the credit side of ledger account?

9. The process of transferring the debit and credit items from a journal to their respective account in the ledger is termed as?

10. Ledger is a book of?

Search