Question

Q.1 Answer in one sentence only
1) What is Ledger?
2) What is ledger posting?
3) When does an account show a nil balance?
4) What is Folio?
5) Where is the statement form of ledger A/c is used in actual practice?
6) Why Proprietor's Capital account is a liability for the business?
7) Why does cash account never shows a credit balance?
8) What is ‘Trial Balance"?
6 and 7 ans

Answer 1

Answer:

1 Answer :A book or other collection of financial accounts is called Ledger.

2 Answer :The process of transferring the entries from journal to respective Ledger accounts is called Ledger posting.

3 Answer :A zero balance is what shows on a credit card customer's bill when the outstanding balance has been paid and there no new charges during the billing cycle.

4 Answer : A sheet of paper folded once to form two leaves (four pages )of a book.

Explanation:

Sorry for not writing 5,6,7,8

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