A. Recording
B. Transferring
C. Posting
D. Entry making
Related Mcqs:
- Which of the following is the closing balance of a ledger account?
A. Balance c/d
B. Balance b/d
C. Balance e/d
D. Balance f/c - A journal entry in which two or more account is debited or credited is referred as____________?
A. Journal entry
B. Multi entry
C. Additional entry
D. Compound entry - The drawer of a trade bill passes relevant entries with regard to the transaction involved in it. But, in case of an accommodation bill, he passes an entry in addition to the usual entries. The additional entry so passed is with respect to
A. Discounting of the bill with the bank
B. Payment of the bill on due date
C. Remitting or receiving the amount
D. Sending the bill to bank for collection - General journal is a book of _______ entries?
A. First
B. Original
C. Secondary
D. Generic - Which of the following is a type of cash receipt journal + cash payment journal?
A. Bank statement
B. Statement of cash flow
C. Cash book
D. Cash documents - A brief explanation recorded below every entry in general journal is commonly known as__________?
A. Narration
B. Explanation
C. Summary
D. Other information - Building account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital - Office equipments account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital - Keeping the log of financial information in books of original entries is called__________?
A. Recording
B. summarizing
C. Grouping
D. Processing - Which of the following entries is correct in respect of reserve for discounts on accounts payable?
A. Debit P&L A/c and Credit Reserve for Discount on Accounts Payable A/c
B. Debit Accounts Payable A/c and Credit P&L A/c
C. Debit Reserve for Discount on Accounts Payable A/c and Credit P&L A/c
D. Debit Reserve for Discount on Accounts Payable A/c and credit Accounts Payable A/c
The correct answer to the question: "Transferring entries from journal to ledger account is commonly known as____________?" is "Posting".
