CA/CS Foundation MCQ Question Accounting Process - Ledger

Test Preparation on CA/CS Foundation MCQ Questions Accounting Process - Ledger

1.

Normally the following accounts are balanced

1Personal accounts and nominal accounts
2Real accounts and nominal accounts
3Personal accounts and real accounts
4All accounts.

2.

The concerned a/c debited in Journal should be -

1Debited in the ledger but reference should be of the respective credit account.
2Credited in the ledger but reference should be of the respective debit account.
3Credited in the ledger and reference should also be of the respective credit account.
4Debited in the ledger and reference should also be of the respective debit account

3.

If the total of debit side of an account exceeds the total of its credit side it indicates -

1Debit balance
2Credit balance
3Either debit o credit
4Neither debit nor credit.

4.

If the total of credit side of an account exceeds the total of its debit side, it indicates

1Debit balance
2Income
3Losses
4Credit balance

5.

Credit balance of a personal account indicates

1Cash balance
2Amount payable
3Amount receivable
4None of the above.

6.

Personal A/c credit balance indicates

1Assets
2Expense
3Debtor
4Creditor

7.

Personal A/c debit balances Indicates

1Profit
2Debtor
3Creditor
4Loss

8.

Real A/c debit balance indicates

1Expenses
2Income
3Asset
4Loss

9.

Nominal A/c credit balance indicates

1Liability
2Asset
3Income
4Expense

10.

Nominal A/c debit balance indicates

1Asset
2Liability
3Income
4Expense

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