Write the word, term, phrase, which can substitute each of the statement.

1) Principal Book of accounts.
Ans: Ledger

2) Transferring a journal entry to the appropriate accounts in the Ledger.
Ans: Posting

3) Page number of Ledger to which an entry is posted.
Ans: L.F (Ledger Folio)

4) The process of extracting the balance and inserting it on lesser side of an account.
Ans: Balancing

5) A debit balance to Personal Accounts.
Ans: Debtor.

6) A credit balance to Bank Account.
Ans: Bank Overdraft.

7) An account to be debited for goods damaged by fire.
Ans: Loss by Fire A/c

8) A Trial Balance in which only net balances of all ledger accounts are transferred.
Ans: Net Trial Balance.