Take a quick Multiple Choice Questions (MCQs) test about General Ledger. These MCQs can help you to prepare for your exams, interviews and different tests. Just click the “start quiz” button and start general ledger MCQs quiz.
If you find difficulty in answering these questions, read ‘General Ledger‘ chapter thoroughly from explanation section of the website.
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- Question 1 of 25
1. Question
Which one of the following is known as the king of all books of accounts?
Correct
Awesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “ledger” (option 3). - Question 2 of 25
2. Question
Transferring information from journal to ledger is known as:
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “posting” (option 2). - Question 3 of 25
3. Question
Which of the following accounts is expected to have a debit balance?
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “all of the above” (option 4). - Question 4 of 25
4. Question
A collection or group of all accounts of a business enterprise is known as:
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “ledger” (option 1). - Question 5 of 25
5. Question
An account having a credit balance in general ledger will be classified as:
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “a liability account” (option 3). - Question 6 of 25
6. Question
The process of finding out the balance of a ledger account is known as:
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “balancing” (option 4). - Question 7 of 25
7. Question
The left hand side of a ledger account is known as:
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “debit side” (option 2). - Question 8 of 25
8. Question
The difference between the total of debit side and the total of credit side of a ledger account is known as:
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “balance” (option 3). - Question 9 of 25
9. Question
If the total of debit side exceeds the total of credit side, the ledger account is said to have a:
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is ” debit balance” (option 1). - Question 10 of 25
10. Question
In accounting, the abbreviation Dr. is used for:
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “debit side of ledger account” (option 4). - Question 11 of 25
11. Question
If an account has a credit balance, it means
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “total of credit side exceeds the total of debit side” (option 3). - Question 12 of 25
12. Question
In accounting, the term credit is usually abbreviated as:
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “Cr.” (option 4). - Question 13 of 25
13. Question
Which of following types of accounts normally have a credit balance?
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “income, liabilities, capital” (option 2). - Question 14 of 25
14. Question
If total of debit side is equal to the total of credit side of a ledger account, the account is said to have a
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “zero balance” (option 4). - Question 15 of 25
15. Question
A non-zero balance of a ledger account represents:
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “increase or decrease in account” (option 3). - Question 16 of 25
16. Question
Which of the following correctly represents the sequence of accounting cycle?
CorrectAwesome! your answer is correct.IncorrectYour answer is incorrect. The correct answer is “transaction analysis > journal entry > ledger account” (option 2). - Question 17 of 25
17. Question
The book in which business transactions are recorded in classified form is:
CorrectIncorrect - Question 18 of 25
18. Question
The function of ledger is:
CorrectIncorrect - Question 19 of 25
19. Question
A separate record for each account is maintained in:
CorrectIncorrect - Question 20 of 25
20. Question
Sundry Debtors is the total of all balance on:
CorrectIncorrect - Question 21 of 25
21. Question
Double Entry Accounting System is successfully applied through:
CorrectIncorrect - Question 22 of 25
22. Question
The process of transferring data from journal to ledger is called:
CorrectIncorrect - Question 23 of 25
23. Question
Ledger is a book in which accounts are opened:
CorrectIncorrect - Question 24 of 25
24. Question
Ledger is also called:
CorrectIncorrect - Question 25 of 25
25. Question
Difference between two sides of an account is:
CorrectIncorrect
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Your answer is incorrect. The correct answer is “ledger” (option 3).You can also check:
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