When Accounts in the ledger are balanced ?

Daily

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Weekly

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Monthly

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Yearly

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D Yearly
The ledger account are periodically balanced at the end of the accounting period, with the object of ascertaining the net position of each amount. Balancing of an account means that two sides are totalled and the difference between them is shown on the side, which is shorter in order to make their totals equal.

Suggest Corrections

Similar questions

Q. ___________is prepared from the balance in ledger accounts.

When balance of an account is a debit balance, on which side of the ledger account is the entry for balancing done?

Q. If there is a debit balance in ledger accounts than ___________.

Q. A list of balances of all the accounts in ledger is called _________.

Give one word, term or phrase for the following statement:

1) A List of Debit Balances and Credit balances in the ledger.
2) A Statement prepared to provide the base for preparing the final accounts.
3) A statement is prepared without balancing the ledger account.
4) Mention the side where goodwill A/c is appeared in the Trial Balance.
5) A List of both Ledger balances which is prepared after the closing of ledger Accounts.

Join BYJU'S Learning Program