The process of transferring the debit and credit items from a journal to their respective account in the ledger is termed as?

Related MCQs

• The respective normal account balances of Sales, Sales Returns , and Discounts allowed are?
• Where do we show Provision of bad debts in final accounts if given in adjustments? I)Debit side of P&L II)Credit side of P&L III)Deduct from Debtors in Balance Sheet IV)Add to Debtors in Balance Sheet
• What are the two statements prepared for summarising the transactions? I)Balance Sheet II)Journal III)P&L IV)Cash Book
• In trial balance, which accounts with is/are recorded at the credit side? I)Sales II)Sales return III)Cash IV)Loan
• Which one is false. I)Capital Expenditure is non recurring in nature and shown in P&L account. II)Revenue expenditure is incurred to conduct day to day activities
• In the books of account if a transaction is completely deleted, will it affect the trial balance?
• When Salary is paid by cheque, which account is credited.
•                         refers to the order in which the various assets and liabilities are shown in the Balance Sheet.
• Where do we show Gas and Fuel in final accounts?