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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is a ledger?
💡 Hint: Think about where journal entries go after being recorded.
Question 2
Easy
What does the particulars column indicate?
💡 Hint: Consider it as a description of each transaction.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What is the main purpose of a ledger?
- To summarize transactions
- To categorize accounts
- To record financial position
💡 Hint: Think about the organizational structure of accounting.
Question 2
True or False: The ledger contains all transactions from different accounts grouped together.
- True
- False
💡 Hint: Consider how transactions are arranged in financial reporting.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
You have a Cash ledger with an opening balance of ₹5,000. Record the following transactions: ₹2,000 received from sales and ₹1,500 paid for supplies. What would be the new balance?
💡 Hint: Remember to always consider the opening balance and how transactions affect it.
Question 2
Prepare a journal entry for a ledger account after you purchase an asset worth ₹10,000 and pay cash. What will the ledger entries look like?
💡 Hint: Ensure you follow the double-entry system while documenting.
Challenge and get performance evaluation