311. The process of transferring debit and credits from journal to ledger account is called:
A. Pasting
B. Balancing
C. Recording
D. Totaling

312. Which of the following account will invariably have a debit balance ?
A. Bank account
B. Amount receivable
C. Amount payable account
D. Loan account

313. Left hand side of account is known as:
A. Assets side
B. Liabilities side
C. Debit side
D. Credit side

314. The balance of cash account shows:
A. Cash in hand
B. New expenditure
C. Net income
D. None of the above

315. The difference between debit side and credit side of an account is known as:
A. Totaling
B. Posting
C. Balancing
D. Balance

316. The transaction are recorded in ledger:
A. Year wise
B. Month wise
C. Data wise
D. Account wise

317. Credit balance of a ledger account is denoted by:
A. Excess of credit side over debit side
B. Excess of debit side over credit side
C. Equality of debit and credit
D. All of the above

318. Real account generally shows:
A. Debit balance
B. Credit balance
C. Nil balance
D. Any balance

319. Number of columns in a journal is:
A. Two
B. three
C. Four
D. Five

320. Each journal entry involves a minimum of :
A. Two account
B. Three account
C. Four account
D. One account

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