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Totalling of ...

Question

Totalling of journal and ledger is called as_____.

A

Posting

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B

Folio

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C

Casting

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D

Journalising

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Solution

The correct option is B Casting
Casting means to add up or sum up a column of figures. In accounts it is necessary to add the balances as the figures are useful in many ways.

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2) Narration is not necessary in ledger.
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4) Recording of a transaction in Journal is called posting.
5) Balance of personal account is brought down for the next year.
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7) Ledger Folio and index is necessary for ledger.
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10) Ledger posting is made before passing Journal entry.

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