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.

This CBSE Class 11 Accountancy practice quiz has 33 multiple-choice questions on Ledger Accounts. Try the 5 sample questions below (tap an option to check yourself), then play the full quiz 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
   Show answer

   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
   Show answer

   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
   Show answer

   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
   Show answer

   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
   Show answer

   Answer: A. Consistency Principle

More questions in this quiz

Answers and explanations are in the full quiz.

1. Which of the following statements about ledger accounts is true?
2. In a ledger, how are debits and credits recorded?
3. What does a 'double-entry system' in accounting imply?
4. Which of the following is a primary purpose of maintaining a ledger?
5. How often should transactions be posted to the ledger?
6. Which type of ledger account would you use to record expenses?
7. What is an important feature of the general ledger?
8. Which financial statement is prepared using information from the ledger?
9. What is a ledger account used for?
10. Which of the following represents a double entry in ledger accounts?
11. What does the term 'debit' signify in a ledger account?
12. If a ledger shows a debit balance, what does it indicate?
13. What is the primary purpose of closing entries in ledger accounts?
14. What is meant by 'trial balance' in relation to ledger accounts?
15. In which segment of the ledger will you find the transactions of assets?
16. How are ledger accounts typically organized?
17. What is the primary purpose of the trial balance?
18. When transferring amounts from the journal to the ledger, this process is known as?
19. Which of the following statements about the ledger is true?
20. In a double-column cash book, what does the right-hand side signify?
21. If a ledger shows a balance of $100 in the bank account, what does it represent?
22. What is the final step after preparing ledger accounts before preparing financial statements?
23. Which of the following is not a type of ledger account?
24. In a ledger, which side records increases in assets?
25. What is the purpose of posting to a ledger?
26. Which is an example of a nominal account?
27. What does the term 'double-entry system' mean in accounting?
28. What is a trial balance?

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