The transferring of debit and credit items from journal to the respective accounts in the ledger is called as

Related MCQs

• The rule debit all expenses and losses and credit all income and gains relates to
• Debit the receiver & credit the giver is _____ account.
• For every debit there will be an equal credit according to
• Debit the receiver credit the giver rule for
• The accounts that records expenses, gains and losses are
• Real accounts records
• The purpose of financial accounts is reporting to
• Small items like, pencils, pens, files, etc. are written off within a year according to _____ concept.
• Long term assets having no physical existence but, possessing a value are called
• Any written evidence in support of a business transaction is called