CBSE Questions for Class 9 Elements Of Book Keeping And Accountancy Ledger Quiz 6 - MCQExams.com

The transferring of debit and credit items from journal to the respective accounts in the ledger is called as ___________.
  • Ledger
  • Posting
  • Forward journal
  • None of the above
Where separate set of books are maintained, the ledger accounts required are ____________.
  • Memorandum Joint Venture and Joint venture Account with the other party
  • Joint Venture Account and the Personal Account of the other party
  • Joint Bank Account, Co-Venture's Accounts and Joint Venture Account
  • Joint Bank Account and Joint Venture Account with the other party
A credit sale of goods to Shivendra should be debited to ______ account.
  • Sales 
  • Goods 
  • Shivendra's 
  • Purchase 
The accounting entries passed to transfer balance from the closed account to another account are called transfer entries, e.g. transfer of net profit to Capital A/c.
  • True
  • False
Discount Allowed Account will have ____________.
  • Debit balance
  • Credit balance
  • Nil
  • Debit or credit balance
Commission received A/c will have __________.
  • Debit balance
  • Credit balance
  • Nil
  • Debit or credit balance
An analysis of the effects of a transaction on the accounts, usually accompanied by explanation is known as ________.
  • Recording
  • Journalising
  • Journal entry
  • Posting
Ledger Folio and index is necessary for ledger.
  • True
  • False
The creditors accounts, generally, have credit balance. Debit balance may be due to _________. 
  • advance paid against an order
  • goods returned
  • wrong debit to supplier account
  • any of these
Which of the following is (are) benefits of subsidiary ledger accounts to business?
  • It tells about customer attitude of payments
  • It can be checked against the control account to pick up recording errors
  • It tells about the complete history of transactions of business client
  • All of the above
Goods worth Rs. $$10,000$$ were purchased by B on which the traders allowed Rs. $$500$$ trade discount and offer to give $$5\%$$ cash discount if immediate payment is made. The Purchase A/c will be debited by _________.
  • Rs. $$10,000$$
  • Rs. $$9,800$$
  • Rs. $$9,000$$
  • Rs. $$9,500$$
Donation & Charity Account is _______________.
  • An Asset Account
  • A Liability Account
  • A Revenue Account
  • An Expense Account
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Practice Class 9 Elements Of Book Keeping And Accountancy Quiz Questions and Answers