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Financial Statements of NPO

Ledger is kno...

Question

Ledger is known as the book of original entry (a) True (b) false - Commerce Q&A

A

True

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B

False

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Solution

The correct option is B False

A ledger the book of final entry or secondary entry whereas, a Journal is known as the book of original entry. Hence the statement is False.

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

Q. When any particular transaction has not at all been entered in the journal or in the book of original entry, it cannot be posted into the ledger at all, such errors are known as ___________.

A ledger is also known as book of ___ .

Q. A ledger is also known as book of .

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