Ledger Test 14...

A cash purchase of goods for proprietor's personal use should be credited to __________________.

Credit creation power of the commercial banks gets limited by which of the following?

At the end of the accounting year all the nominal accounts of the ledger book are _________________.

Payment to creditors is a manifestation of cash held for __________________.

Which of the following statements best explains the relationship between journal and ledger?

Ledger is an account book in which ______________.

Left hand side of an account is ________.

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

A credit sale of goods to Shivendra should be debited to ______ account.

Which of the following statements best explains the relationship between journal and ledger?