Answer in one sentence only

1) What is Ledger?
Ans: A Ledger is a bound book in which all accounts are maintained in a summarized manner in one place.

2) What is ledger posting?
Ans: Ledger posting is the process of transferring an entry from journal or Subsidiary book in to the Ledger.

3) When does an account show a nil balance?
Ans:  When total of debit and credit sides of an account are equal, the account shows a nil Balance.

4) What is Folio?
Ans: Folio means the page number of journal or Ledger.

5) Where is the statement form of ledger A/c is used in actual practice?
Ans: In Practice, statement form of ledger A/c is use when business uses integration computerized system. for e.g. Bank Statement.

6) Why Proprietor’s Capital account is a liability for the business?
Ans: Capital of a business is the claim of the owner to his business, both being separate entities, it is a liability for business.

7) Why does cash account never shows a credit balance?
Ans: Cash A/c is a real account and real accounts never show a credit balance and one cannot spend cash over and above of the cash received. 

8) What is ‘Trial Balance’?
Ans: Trial Balance is a list of debit and credit balances of different ledger accounts as on a particular date.