Ledger Accounts Quiz - CBSE Class 11 Accountancy

Free practice quiz: Ledger Accounts (CBSE Class 11 Accountancy). 33 multiple-choice questions with answers and explanations. Play online, no sign-up needed.

Sample questions

1. What is a ledger account?

   1. A record of all transactions in chronological order
   2. A record that summarizes all changes made to a particular account
   3. A statement of financial position
   4. A report of revenue generated by a business
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   Answer: B. A record that summarizes all changes made to a particular account

2. Why is it important to balance ledger accounts?

   1. To ensure accurate financial reporting
   2. To impress stakeholders
   3. To comply with tax regulations
   4. To attract investors
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   Answer: A. To ensure accurate financial reporting

3. In which section of a ledger account would you enter income?

   1. Debit side
   2. Credit side
   3. Both sides
   4. Neither side
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   Answer: B. Credit side

4. Which of the following best describes the function of a ledger?

   1. It summarizes transactions
   2. It records daily cashflows
   3. It calculates tax liabilities
   4. It provides audit evidence
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   Answer: A. It summarizes transactions

5. Which accounting principle is reflected when preparing ledger accounts?

   1. Consistency Principle
   2. Relevance Principle
   3. Materiality Principle
   4. Going Concern Principle
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   Answer: A. Consistency Principle

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