Accounting System

The usual sequence of steps in the transaction recording process is

• journal --> analyze --> ledger.

• analyze --> journal --> ledger.

• journal --> ledger --> analyze.

• ledger --> journal --> analyze.

After transaction information has been recorded in the journal, it is transferred to the

• trial balance.

• income statement.

• book of original entry.

• ledger.

The other name for the journal is:

• Ledger

• T-account

• Day book

• Cash book

Which one of the following is not a nominal account?

• purchases account

• sales account

• salaries account

• cash account

The account that records expenses, gains and losses is

• Personal account

• Real account

• Nominal Account

• None of the above

The process of entering all transactions from the Journal to Ledger is called

• Posting

• Entry

• Accounting

• None of the above

Transactions are posted into ledger account from.

• Vouchers

• Journal Book

• Source Documents

• None of the above

A journal is called a book of

• Primary Entry

• Secondary Entry

• Final Entry

• None of these

Rent paid is related to

• Personal account

• Real account

• Nominal account

• All of the above

Davis account is related to

• Personal account

• Real account

• Nominal account

• All the above