10 Accounting Principles

5/15/2019 General Ledger MCQs | Accountancy Knowledge
 zaheerswati@gmail.com
Home Courses  MCQs  Problems  Formats Quizzes 
Assignment Papers  Result GAT
U a
General Ledger MCQs

Contents [show]
Leasing IFRS 16 SaaS software -

Book free demo now
Ad Our IFRS-16 calculations have been
validated by an international audit rm.
zentreasury.com
Learn more
MCQs 1 To 10
1. If debit side of bank account is greater than

credit side it represents?
(a) Cash at Bank

2
(b) Bank Loan
(c) Bank Overdraft
www.accountancyknowledge.com/general-ledger-mcqs/ 1/17
(d) None of them
Correct!
2. The payment to a creditor will?
(a) Increase one asset and decrease another
(b) Decrease an asset and decrease owner’s equity
(c) Decrease an asset and decrease a liability
(d) Increase an asset and increase a liability
Correct!
3. The T-account is used to summarize which of

the following?
(a) Increase and decrease to a single account in the accounting system
(b) Debit and credit to a single account in the accounting system
(c) Changes in specific account balances over a time period
(d) All of the above describe how T-accounts are used by accountants
Correct!
2
4. Credit means?
(a) Entries on the right hand side
(b) A decrease in liabilities
(c) An increase in expenses
(d) An increase in assets
Correct!
5. Ledger is a principal book in which?
(a) Only real account are kept
(b) Only personal accounts are kept
(c) All accounts are kept
(d) Only nominal accounts are kept
Correct!
6. The left hand side of account is referred to as?
(a) The Balance
(b) A Debit
(c) A Credit 2
(d) A footing
Correct!
7. Excess of Debit side over Credit side is called?
(a) Debit Balance
(b) Credit Balance
(c) Liability Accounts
(d) All of before
Correct!
8. Which item will appear on the credit side of

ledger account?
(a) Cash received
(b) Purchases
(c) Discount received
(d) Rent Expenses
Wrong!
2
9. The process of transferring the debit and credit
items from a journal to their respective account
in the ledger is termed as?
(a) Balancing
(b) Posting
(c) Arithmetic
(d) Entry
Correct!
10. Ledger is a book of?
(a) Original entry
(b) Final entry
(c) Secondary entry
(d) All cash transactions
Wrong!
General Ledger (1-10)
You got 8 out of 10

Very Good **
Share your Results:
Facebook
2
 PLAY AGAIN!
>> Study General Ledger.
MCQs 11 To 20
11. The account is a device used by the accountant

to record?
(a) Increase
(b) Decrease
(c) Increase & Decrease
(d) None of them
Correct!
12. The balance of cash account indicates?
(a) Net cash on hand
(b) Net loss for the period 2
(c) Net income for the period
(d) Net worth of the business

Correct!
13. Which of the following item is not included in

the Cash account?
(a) Purchases of Rs. 10,000
(b) Sales of Rs.5,000
(c) Received cash for Salman Rs. 2,000
(d) Credit sales of Rs. 22,000
Correct!
14. Which accounts belong in the accounts

payable ledger?
(a) Customer Accounts
(b) Vendor Accounts
(c) Sales Accounts
(d) None
Wrong!
2
15. An account is said to have a debit balance if?
(a) The amount of debit exceeds the amount of the credits
(b) There are more entries on the debit side than on the credit side
(c) The last entry of the accounting period was posted on the debit side
(d) None of above
Correct!
16. Book of account where transaction related to a

particular person or thing are recorded?
(a) General Journal
(b) Trial balance
(c) General Ledger
(d) Worksheet
Wrong!
17. When a Liability is reduced or decreased, it is

recorded on the?
(a) Right or debit side of the account
(b) Left or debit side of the account 2
(c) Left or credit side of the account
(d) Right or credit side of the account
Correct!
18. General Ledger is also known as?
(a) Book of original entry
(b) T Account
(c) Source document
(d) Voucher
Correct!
19. The records that are kept for the individual

asset, liability, equity, revenue, expense, and
drawing components are known?
(a) Journals
(b) Vouchers
(c) Accounts
(d) Statements
Correct!
2
20. The respective normal account balances of

Sales, Sales Returns and Allowances, and Sales
Discounts are?
(a) Credit, Credit, Credit
(b) Debit, credit, debit
(c) Credit, Debit, Debit
(d) Credit, Debit, Credit
Wrong!
General Ledger (11-20)
You got 7 out of 10

Good *
Share your Results:
Facebook
 PLAY AGAIN!
>>> Practice General Ledger Problems and Solutions.
Accounting MCQs
Accounting MCQs
Accounting Basics 2
Types of Businesses
Types of Accounts
Accounting Equation
Accounting Cycle
Journal Entry MCQs
General Ledger MCQs
Trial Balance MCQs
Rectification of Errors
Books of Accounts
Cash Book MCQs 1
Cash Book MCQs 2
Bank Reconciliation 1
Bank Reconciliation 2
Adjusting Entries 1
Adjusting Entries 2
Adjusted Trial Balance
Financial Statement
Closing and Worksheet
Cash Flow Statement
Related Accounting Problems & Sol.

Accounting Problems
Accounting Equation
Accounting Proforma
Journal Entry Problems
General Ledger
Trial Balance Problems
Rectification of Error
Books of Accounts
Single Col. Cash Book
Three Col. Cash Book
Bank Reconciliation
Adjusting Entries 1
Adjusting Entries 2
2
Financial Statement
Closing and Worksheet
Join Us
Accountanc…
9.1K likes
Like Page
Be the first of your friends to like

this
Format & Templates

Accounting Equation
Accounting Proforma
Journal Entry Format
General Ledger Format
Standard G. Ledger
Running Balance Ledger
Trial Balance Format
Trial Balance with Total
Financial Statements
Income Statement
Statement of O.E
Balance Sheet Format
Worksheet Format
Cash Book Format
Single Col. Cash Book 2

Double Col. Cash Book
Three Col. Cash Book
Bank Reconciliation
Cost of Goods Sold
Past Papers
Papers
Quiz # 1
Sessional 1
Quiz 2 & 3
Sessional 2
Quiz 4
Final Exam
Accounting PDF
Accounting Eq. Pdf
Journal Entry Pdf
Trial Balance Pdf
Rectification Pdf
3 Col. Cash Book Pdf
Bank Reconciliation Pdf
Adjusting Entries Pdf
Financial Statement Pdf
Worksheet Pdf
Related Topics
2
Accounting Basics
Types of Accounting
Types of Businesses
Types of Accounts
Assets
Liabilities
Drawings Account
Expenses
Owner’s Equity
Revenue Accounts
Accounting Equation
Chart of Accounts
Golden Rules of Acc.
Normal Balance
Accrual Accounting
Double Entry System
Accounting Cycle
Journal Entry
General Ledger
Trial Balance
Rectification of Errors
Books of Accounts
Cash Book
Petty Cash Book
Bank Reconciliation
Adjusting Entries
Financial Statement
2
Income Statement
Statement of O.E
Balance Sheet
Cash Flow Statement
Closing Entries
Accounting Worksheet
Search
Search
Back To Accounting MCQs
Related Topics
Trial Balance MCQs
Rectification of Errors MCQs
Books of Accounts MCQs
Related Courses
Principles of Accounting
Cost Accounting
Principles of Finance
Financial Accounting
0 Comments
About Us
Home
About
Research
Articles
Project Free TV
Home About Research Articles Project Free TV
   

10 Accounting Principles

Загружено:

Сведения о документе

Авторское право

Доступные форматы

Поделиться этим документом

Поделиться или встроить документ

Параметры публикации

Этот документ был вам полезен?

Это неприемлемый материал?

Авторское право:

Доступные форматы

10 Accounting Principles

Загружено:

Авторское право:

Доступные форматы

5/15/2019 General Ledger MCQs | Accountancy Knowledge

Home Courses  MCQs  Problems  Formats Quizzes 

Assignment Papers  Result GAT

General Ledger MCQs

Leasing IFRS 16 SaaS software -

1. If debit side of bank account is greater than

(a) Cash at Bank

(c) Bank Overdraft

(d) None of them

2. The payment to a creditor will?

(a) Increase one asset and decrease another

(b) Decrease an asset and decrease owner’s equity

(c) Decrease an asset and decrease a liability

(d) Increase an asset and increase a liability

3. The T-account is used to summarize which of

(a) Increase and decrease to a single account in the accounting system

(b) Debit and credit to a single account in the accounting system

(c) Changes in specific account balances over a time period

(a) Entries on the right hand side

(b) A decrease in liabilities

(c) An increase in expenses

(d) An increase in assets

5. Ledger is a principal book in which?

(a) Only real account are kept

(b) Only personal accounts are kept

(c) All accounts are kept

(d) Only nominal accounts are kept

6. The left hand side of account is referred to as?

(a) The Balance

7. Excess of Debit side over Credit side is called?

(a) Debit Balance

(b) Credit Balance

(c) Liability Accounts

(d) All of before

8. Which item will appear on the credit side of

(a) Cash received

(c) Discount received

(d) Rent Expenses

10. Ledger is a book of?

(a) Original entry

(b) Final entry

(c) Secondary entry

(d) All cash transactions

General Ledger (1-10)

You got 8 out of 10

>> Study General Ledger.

11. The account is a device used by the accountant

(c) Increase & Decrease

(d) None of them

12. The balance of cash account indicates?

(a) Net cash on hand

(b) Net loss for the period 2

(c) Net income for the period

(d) Net worth of the business

13. Which of the following item is not included in

(a) Purchases of Rs. 10,000

(b) Sales of Rs.5,000

(c) Received cash for Salman Rs. 2,000

(d) Credit sales of Rs. 22,000

14. Which accounts belong in the accounts

(a) Customer Accounts

(b) Vendor Accounts

(c) Sales Accounts

15. An account is said to have a debit balance if?