Ledgers - JSS1 Business studies Past Questions and Answers - page 1
What are ledgers?
Books where financial transactions are recorded
Books where sales are recorded
Books where inventory is recorded
Books where marketing activities are recorded
Which of the following is a class of ledger?
General ledger
Sales ledger
Inventory ledger
Production ledger
Which ledger provides detailed information on specific accounts within the general ledger?
General ledger
Subsidiary ledger
Nominal ledger
Personal ledger
Which type of account represents tangible assets?
Real accounts
Nominal accounts
Personal accounts
Impersonal accounts
Which type of account represents revenues and expenses?
Real accounts
Nominal accounts
Personal accounts
Impersonal accounts
Accounts receivable and accounts payable fall under which category of accounts?
Real accounts
Nominal accounts
Personal accounts
Impersonal accounts
Which of the following accounts represent individuals, companies, or organizations with whom a business has financial transactions?
Real accounts
Nominal accounts
Personal accounts
Impersonal accounts
Which of the following is an example of an impersonal account?
Cash
Accounts receivable
Accumulated depreciation
Accounts payable
What type of account tracks the decrease in value of an asset over time?
Real account
Nominal account
Personal account
Impersonal account
Which of the following accounts is temporary and closed at the end of each accounting period?
Real account
Nominal account
Personal account
Impersonal account