Chapter Exam

Chapter 5 ACCOUNTANCY : Ledger — Online MCQ Test

Q: What is the process of transferring entries from the Journal to the Ledger called?

Answer: B. Posting — The process of transferring information from the journal to the respective ledger accounts is known as posting.

Q: The Ledger is also known as the book of ________ entry.

Answer: B. Secondary — Since transactions are first recorded in the journal, the ledger is called the book of secondary entry.

Q: If the debit side of an account is greater than the credit side, the balance is known as:

Answer: A. Debit balance — When total debits exceed total credits, the account shows a debit balance.

Q: Identify which of the following is NOT an advantage of preparing a ledger.

Answer: D. It replaces the need for a journal — A ledger does not replace the journal; the journal is necessary for original entry as it provides a chronological record.

Q: If a transaction is recorded in the journal but completely omitted from the ledger, what is the impact?

Answer: B. Trial balance will not match — Omission of a journal entry in the ledger results in an imbalance in the trial balance as the debit or credit is not posted.

ACCOUNTANCY · CLASS 11 INTER I YEAR · Andhra State Board

Practice Chapter 5 ACCOUNTANCY : Ledger with a free chapter-wise online MCQ test for Andhra State Board CLASS 11 INTER I YEAR ACCOUNTANCY. This chapter covers: This chapter covers posting entries from journal to ledger accounts balancing ledger accounts and understanding debit and credit balances.. AI-generated questions from basic to board-exam level, with instant results and explanations.

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Chapter 5 ACCOUNTANCY : Ledger — Important Questions & Answers (FAQ)

Frequently asked questions from Andhra State Board CLASS 11 INTER I YEAR ACCOUNTANCY — Chapter 5 ACCOUNTANCY : Ledger, with answers and explanations. These are sample questions; the exam has its own separate question set.

What is the process of transferring entries from the Journal to the Ledger called?

A. Journalising
B. Posting ✓
C. Balancing
D. Casting

Answer: B. Posting
The process of transferring information from the journal to the respective ledger accounts is known as posting.

The Ledger is also known as the book of ________ entry.

A. Original
B. Secondary ✓
C. Final
D. Primary

Answer: B. Secondary
Since transactions are first recorded in the journal, the ledger is called the book of secondary entry.

If the debit side of an account is greater than the credit side, the balance is known as:

A. Debit balance ✓
B. Credit balance
C. Nil balance
D. Zero balance

Answer: A. Debit balance
When total debits exceed total credits, the account shows a debit balance.

Identify which of the following is NOT an advantage of preparing a ledger.

A. It helps in calculating profit or loss
B. It provides information about assets and liabilities
C. It shows a summary of all transactions related to one head
D. It replaces the need for a journal ✓

Answer: D. It replaces the need for a journal
A ledger does not replace the journal; the journal is necessary for original entry as it provides a chronological record.

If a transaction is recorded in the journal but completely omitted from the ledger, what is the impact?

A. Trial balance will still match
B. Trial balance will not match ✓
C. The ledger balance remains accurate
D. Profit is not affected

Answer: B. Trial balance will not match
Omission of a journal entry in the ledger results in an imbalance in the trial balance as the debit or credit is not posted.

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Chapter 6 ACCOUNTANCY : Subsidiary Books