Question :
A) Vouchers
B) Asset
C) Group
D) None of these
Answer : C
Collection of ledgers of same nature is called
A) Vouchers
B) Asset
C) Group
D) None of these
Answer : C
Description :
Group are collection of ledgers of the same nature. An account group is a method of coordinating ledger accounts into a tree structured hierarchy. Each account group is component of either assets, liabilities, income and expenditure.
Related Questions - 1
Salary Account comes under which head
A) Indirect Incomes
B) Indirect Expenses
C) Direct Incomes
D) Direct Expenses
Related Questions - 2
Which of the following is used for voucher entry?
A) Ledger Account
B) Groups
C) Sub-Groups
D) Depends on number of companies
Related Questions - 3
Which of the following equation is true for balance sheet
A) Assets = Liabilities + Capital
B) Liabilities = Assets + Capital
C) Capital = Assets + Liabilities
D) All of these