The process of entering transaction from one book to another is
Reading
Posting
Numbering
Listing
Correct answer is B
Posting in accounting is when the balances in sub-ledgers and the general journal are shifted into the general ledger.
Fixed assets and current assets
Assets and long term liabilities
Assets and liabilities
Assets and capital
Correct answer is C
A balance sheet is a financial statement that reports a company's assets, liabilities and shareholders' equity.
Which of the following is a book of ordinary entry?
Ledger
Balance sheet
Bank statement
Sales journal
Correct answer is D
Books of original entry refers to the accounting journals in which business transactions are initially recorded. The information in these books is then summarized and posted into a general ledger, from which financial statements are produced.
The main books of prime entry are:
Asset account credit purchase account
Asset account credit capital account
Capital account credit asset account
Capital account credit profit and loss account
Correct answer is B
Debit asset account with 5000 and credit capital account with 5000.
Which of the following is not a source document?
Journal paper
Sales invoice
Debit note
Credit note
Correct answer is A
he types of sources documents are: