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
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Which of the following is a class of ledger?
General ledger
Sales ledger
Inventory ledger
Production ledger
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Which ledger provides detailed information on specific accounts within the general ledger?
General ledger
Subsidiary ledger
Nominal ledger
Personal ledger
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Which type of account represents tangible assets?
Real accounts
Nominal accounts
Personal accounts
Impersonal accounts
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Which type of account represents revenues and expenses?
Real accounts
Nominal accounts
Personal accounts
Impersonal accounts
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Accounts receivable and accounts payable fall under which category of accounts?
Real accounts
Nominal accounts
Personal accounts
Impersonal accounts
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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
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Which of the following is an example of an impersonal account?
Cash
Accounts receivable
Accumulated depreciation
Accounts payable
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What type of account tracks the decrease in value of an asset over time?
Real account
Nominal account
Personal account
Impersonal account
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Which of the following accounts is temporary and closed at the end of each accounting period?
Real account
Nominal account
Personal account
Impersonal account
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