alleryStart learning →Entries in the journal are later transferred to the ledger by a process called
- Casting
- Balancing
- Narration
- Posting
Show answer and solution
Correct answer: D. Posting
Transferring journal entries to the ledger accounts is called posting.
CA Foundation Trial Balance — practice questions — page 2
Explore 47 free Trial Balance questions in CA Foundation Accounting. Open each question or exercise to read its content, reference answers and available explanation.
Practise Trial Balance with Quill →Trial Balance questions and exercises with answers
Showing questions 31–47 of 47.
Entries in the journal are later transferred to the ledger by a process calledRead the answer and worked solution →The brief explanation that follows a journal entry is itsRead the answer and worked solution →Which transactions are recorded in the general journal?Read the answer and worked solution →In a journal entry with several accounts, the total of debits must beRead the answer and worked solution →Double entry bookkeeping records every transaction withRead the answer and worked solution →Revenue and expense accounts are classed asRead the answer and worked solution →Asset, liability and equity accounts are known asRead the answer and worked solution →A profit for the year increases which account at closing?Read the answer and worked solution →A loss for the year affects retained earnings byRead the answer and worked solution →A suspense account is used toRead the answer and worked solution →The general ledger holds a ledger account for each item in theRead the answer and worked solution →Debtors, cash and stock are examples ofRead the answer and worked solution →Debts or future obligations owed to others are recorded inRead the answer and worked solution →Claims of the owners on the assets of the business are shown inRead the answer and worked solution →Which is a long-term liability?Read the answer and worked solution →Which of these is a non-current asset?Read the answer and worked solution →Which entries decrease an account on the right side of the equation, such as a liability?Read the answer and worked solution →
Worked practice questions
The brief explanation that follows a journal entry is its
- Narration
- Casting
- Balancing
- Carry forward
Show answer and solution
Correct answer: A. Narration
The summary explanation of a transaction under a journal entry is called the narration.
Which transactions are recorded in the general journal?
- Routine credit sales
- Non-routine entries
- Routine credit purchases
- Routine cash receipts
Show answer and solution
Correct answer: B. Non-routine entries
The general journal holds entries that fit no special journal, such as adjusting and non-routine entries.
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