Q1 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'?
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Answers
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Answer:1.Ledger is the principal of books
2.Ledger posting means balancing of amount recorded in journal.
3.Account having no amount shows a nil balance.
4.Folio means page number
5.in trial balances
8.a trial balance is an abstract or list of all ledger accounts as on a specific date showing debit and credit balances of all ledger accounts
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