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Ledgers Mastery: 10-Item Quiz

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Ledgers Mastery: 10-Item Quiz

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Test your ledger knowledge

Created by

Teacher Gary T. Pelueta
Teacher Gary T. Pelueta
Philippines

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Ledgers Mastery: 10-Item Quiz
 

Ledgers Mastery: 10-Item QuizOnline version

Test your ledger knowledge

by Teacher Gary T. Pelueta
1

A trial balance confirms that assets equal liabilities.

2

The Chart of Accounts lists all accounts used by an organization.

3

All accounts in the general ledger show daily balances.

4

Debits always increase liabilities.

5

A general ledger summarizes all financial transactions by account.

6

In double-entry bookkeeping, every debit has a corresponding credit.

7

Subsidiary ledgers are independent and do not relate to the general ledger.

8

A subsidiary ledger provides details for control accounts in the general ledger.

9

A trial balance checks that total debits equal total credits.

10

The general ledger contains only cash and bank transactions.

 
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