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What Are Solid Wastes?

L.F. i.e., Le...

Question

L.F. (i.e., Ledger Folio) column in the journal is filled at the time of _________.

A

journalising

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B

balancing

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C

posting

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D

casting

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Solution

The correct option is D posting
Ledger Folio , abbreviated as L.F., is a column in the journal where in the page number of the ledger book on which the relevant account appears is recorded. In the journal, this column is filled up at the time of posting and not at the time of making journal entry.

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Q. Ledger Folio is recorded in Journal.

Q. State whether the following statements are ‘True or False”.

1) Ledger is known as the book of original entry.
2) Narration is not necessary in ledger.
3) All accounts are closed down at the end of the accounting year.
4) Recording of a transaction in Journal is called posting.
5) Balance of personal account is brought down for the next year.
6) All transactions are recorded directly in ledger.
7) Ledger Folio and index is necessary for ledger.
8) Ledger posting is not necessary for Journal Proper.
9) Ledger Folio is recorded in Journal.
10) Ledger posting is made before passing Journal entry.

Q. Answer in one sentence only.
Which column in a journal is not filled in at the time of journalising?

Q. Answer in once sentence only.

Which column in a journal is not filled in at the time of journalising?

Should a transaction be first recorded in a journal or ledger? Why?

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