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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
Define what a ledger is in your own words.
💡 Hint: Think about where transactions are categorized.
Question 2
Easy
What are two types of accounts commonly found in a ledger?
💡 Hint: Consider the main areas of business finances.
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 a ledger primarily used for?
- To record transactions chronologically
- To classify and summarize transactions
- To identify errors in journal entries
💡 Hint: Consider what the ledger does with transactions.
Question 2
True or False: Each transaction in accounting must have both a debit and a credit.
- True
- False
💡 Hint: Think about the balance in accounting.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A business receives ₹20,000 for a sale recorded in the journal. How do you record this in the ledger for both Cash and Sales accounts?
💡 Hint: Remember how transactions are posted to separate accounts.
Question 2
Imagine you have multiple journal entries in a day. Explain how you would prioritize posting in the ledger by using an example of entries.
💡 Hint: Think about the chronological approach used in journals.
Challenge and get performance evaluation