Ledgers - JSS1 Business studies Past Questions and Answers - page 1
1
What are ledgers?
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A
Books where financial transactions are recorded
B
Books where sales are recorded
C
Books where inventory is recorded
D
Books where marketing activities are recorded
2
Which of the following is a class of ledger?
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A
General ledger
B
Sales ledger
C
Inventory ledger
D
Production ledger
3
Which ledger provides detailed information on specific accounts within the general ledger?
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A
General ledger
B
Subsidiary ledger
C
Nominal ledger
D
Personal ledger
4
Which type of account represents tangible assets?
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A
Real accounts
B
Nominal accounts
C
Personal accounts
D
Impersonal accounts
5
Which type of account represents revenues and expenses?
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A
Real accounts
B
Nominal accounts
C
Personal accounts
D
Impersonal accounts
6
Accounts receivable and accounts payable fall under which category of accounts?
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A
Real accounts
B
Nominal accounts
C
Personal accounts
D
Impersonal accounts
7
Which of the following accounts represent individuals, companies, or organizations with whom a business has financial transactions?
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A
Real accounts
B
Nominal accounts
C
Personal accounts
D
Impersonal accounts
8
Which of the following is an example of an impersonal account?
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A
Cash
B
Accounts receivable
C
Accumulated depreciation
D
Accounts payable
9
What type of account tracks the decrease in value of an asset over time?
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A
Real account
B
Nominal account
C
Personal account
D
Impersonal account
10
Which of the following accounts is temporary and closed at the end of each accounting period?
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A
Real account
B
Nominal account
C
Personal account
D
Impersonal account
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