The ledger account is prepared in ______________ format.

(a)

U

(b)

T

(c)

V

(d)

Vertical

The process of transferring the debit and credit items from the journal to the ledger accounts is called _______________

(a)

Journalising

(b)

Marshalling

(c)

Posting

(d)

None of these

When a journal entry has more than one debit or more than one credit or both, it is called a _________________

(a)

Opening Entry

(b)

Journal Entry

(c)

Contra Entry

(d)

Compound Entry

Ledger is a book of _______________

(a)

original entry

(b)

final entry

(c)

all cash transactions

(d)

none of these

Personal and real accounts are _____________

(a)

closed

(b)

balanced

(c)

closed and transferred

(d)

opened