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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 of it as a comprehensive collection of all account transactions.
Question 2
Easy
What do the Dr. and Cr. mean in a ledger?
💡 Hint: Recall the T-shaped format where each side represents these differently.
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 primary purpose of a ledger?
- To summarize financial transactions
- To prepare initial journal entries
- To provide tax documentation
💡 Hint: Focus on how different accounts are grouped.
Question 2
True or False: The debit side of a ledger always equals the credit side.
- True
- False
💡 Hint: Think about the double-entry system.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company has the following transactions: Sold goods for ₹10,000 on credit, and received ₹5,000 in cash from a customer. Detail how these would be posted in the ledger accounts.
💡 Hint: Remember each transaction affects both a debit and a credit.
Question 2
You find discrepancies in your ledger where total debits do not equal credits. What steps would you take to identify and correct the error?
💡 Hint: Systematically review and reconcile ledger entries; debugging is vital!
Challenge and get performance evaluation