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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What is posting in accounting?
💡 Hint: Think about moving information from one accounting record to another.
Question 2
Easy
How are debits and credits recorded in the Ledger?
💡 Hint: Remember the term 'left for debits' and 'right for credits'.
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 do we call the process of transferring journal entries to the ledger?
- Posting
- Classifying
- Summarizing
💡 Hint: Focus on what we do with journal entries after they are recorded.
Question 2
True or False: Each credit in the journal is posted to the debit side of the respective ledger account.
- True
- False
💡 Hint: Remember how debits and credits are placed in a ledger.
Solve and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
A company sells products worth ₹20,000 on credit and receives a cash payment of ₹5,000 immediately. Write the journal entry and show how to post to the Ledger.
💡 Hint: Consider how to spread the sales across cash and credit.
Question 2
A business incurs expenses of ₹8,000 for rent, paying ₹3,000 in cash and offering a note payable for the balance. Describe the journal entry and postings.
💡 Hint: Break down payment into parts to cover both cash and notes payable.
Challenge and get performance evaluation