Ledger Test 8...

Which of the following is a book of original entry and also part of the ledger?

If the closing inventory is valued at cost price and the prices are falling, which of the following method of inventory valuation would show more net income

A transaction recorded on the credit side of cash book is transferred to the ledger _______________.

A transaction recorded on the debit side of cash book is transferred to the ledger _________________.

Income received in advance is a .......

Balance of cash book is posted to the ledger ______________.

Goods taken by proprietor for domestic use should be credited to ___________.

If the total of credit side of an account exceeds the total of its debit side, it indicates ________________.

Goods given as charity should be credited to _________ account.

The objectives of preparing a Ledger are ____________.