Tag: explain the concept of ledger and its importance in accounting process.
Questions Related to explain the concept of ledger and its importance in accounting process.
It is a check on the accuracy of posting. If the trial balance agrees it proves that -
1. The books are arithmetically accurate
2. Both the aspects of the transactions have correctly recorded in the books of original entry as well as in the ledger.
The correct answer is ___________________.
Which of the following involves the preparation of reports and statements from the classified data (ledger) understandable and useful to management and other interested parties?
Ledger book is popularly known as ____________.
At the end of the accounting year all the nominal accounts of the ledger book are ______________________.
The total of the amount of the bills receivable book is posted to the _______in the ledger.
The total of the amount of the bills payable book is posted to the _____ in the ledger.
At the end of the accounting year all the nominal accounts of the ledger book are _________________.
Credit creation power of the commercial banks gets limited by which of the following?
Which of the following statements best explains the relationship between journal and ledger?
Ledger Folio and index is necessary for ledger.