Select appropriate alternatives from those given below and rewrite the sentences.
1) In case of a credit transaction one of the account must be a …………….account.
a) Cash b) Credit c) Personal d) Debit
Ans: c) Personal
2) ‘c/d’ indicates …………..balance.
a) Opening b) Closing c) Positive d) Negative
Ans: b) Closing
3) ………….. Column of ledger is used for writing page number of Journal.
a) J.F. b) L.F. c) Date d) Particulars
Ans: a) J.F.
4) Debtors Account shows ……….balance.
a) Real b) Negative c) Credit d) Debit
Ans: d) Debit
5) ………..is the process of deriving the difference between totals of the debit and credit
side of each ledger a/c.
a) Totalling b) Journalizing c) Balancing d) Posting.
Ans: c) Balancing
6) Total of Purchase book is………….to Purchase Account.
a) posted b) moved c) given d) entered.
Ans: a) posted
7) Real account always shows…………balance.
a) minimum b) maximum c) debit d) credit
Ans: c) debit
8) …………..is prepared to test arithmetical accuracy of Books of Accounts.
a) Trial Balance b) Ledger c) Journal d) List
Ans: a) Trial Balance