Practice - Ledger
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Practice Questions
Test your understanding with targeted questions
What is the primary book of accounts in accounting?
💡 Hint: Think about the book where financial summaries are maintained.
What are the two sides of a ledger account?
💡 Hint: Consider a T-shaped format.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What is the purpose of a ledger?
💡 Hint: Focus on how information is organized.
The debit side of a ledger is used for recording which of the following?
💡 Hint: Consider what happens to accounts when they increase.
1 more question available
Challenge Problems
Push your limits with advanced challenges
A firm has the following journal entries in July: Cash Sale of ₹10,000, Purchase of equipment for ₹5,000. Record these in the respective ledger accounts and ensure the totals balance.
💡 Hint: Remember to keep track of which accounts increase or decrease.
An accountant found that a ₹2,000 cash payment made on account was recorded as a 'Credit' rather than a 'Debit'. What steps should the accountant take to correct this error in the ledger?
💡 Hint: Think about how errors impact account balances!
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