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Test your understanding with targeted questions related to the topic.
Question 1
Easy
What does the Journal record?
💡 Hint: Think about the order in which business activities occur.
Question 2
Easy
What is the purpose of the Ledger?
💡 Hint: Consider how data is structured in accounting.
Practice 4 more questions and get performance evaluation
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What order do the Journal, Ledger, and Trial Balance follow?
💡 Hint: Consider the flow of data in accounting.
Question 2
True or False: The Ledger provides a summary of transactions.
💡 Hint: Think about how data is grouped together.
Solve 1 more question and get performance evaluation
Push your limits with challenges.
Question 1
A company records a sale in the Journal for ₹5,000 cash. The corresponding entry in the Ledger is missed. How does this affect the Trial Balance?
💡 Hint: Think about why both sides need to balance.
Question 2
If a transaction for Supplies purchased on credit is recorded as a cash sale, explain the overall effect on the Ledger and subsequently the Trial Balance.
💡 Hint: Consider the implications of misclassifying entries.
Challenge and get performance evaluation