1151. Which one of the following is called the king of all books of account:
A. The cash book
B. Journal
C. Ledger *
D. Balance
1152. The unit of classification of data with in the ledger is the :
A. Transaction
B. Account *
C. Compound entry
D. Memorandum entry
1153. The closing debit balance falls on the:
A. Credit side *
B. Debit side
C. Both debit and credit side
D. None of the above
1154. Ledger is a book in which :
A. Only real accounts are opened
B. Only real accounts and personal accounts are opened
C. All the real, personal and nominal accounts are opened *
D. None of the above
1155. The journal reference (J.R) helps in locating the entry easily in :
A. Ledger
B. Journal *
C. Trial balance
D. Balance sheet
1156. The process of equalizing the two sides of an account is known as :
A. Balancing *
B. Journalizing
C. Posting
D. None of the above
1157. While balancing art account the difference of the two sides is recorded on :
A. Larger side
B. Small Side *
C. Both larger smaller side
D. None of the above
1158. Expenses normally shares :
A. Debit balance *
B. Credit balance
C. Debit and credit balance both
D. None of the above
1159. Liabilities normally shows :
A. Debit balance
B. Credit balance *
C. Both Debit and credit balance
D. None of the above
1160. Accounts of revenue normally have :
A. Debit balance
B. Credit balance *
C. Both credit and debit balance
D. None of the above