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Ledger — Flashcards

NIOS · Class 10 · Accountancy

26 flashcards for Ledger (NIOS Class 10 Accountancy) to test yourself on key terms and facts. Sample: "What is a ledger in accountancy?"

44 questions26 flashcards5 concepts

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26 Flashcards·
Meaning of LedgerPurpose of LedgerLedger PostingLedger FormatLedger ColumnsJournal and LedgerJournal vs Ledger
Card 1Meaning of Ledger

What is a ledger in accountancy?

Answer

Ledger is the principal book of double entry accounting system in which all accounts are maintained. It contains the complete set of accounts for a business entity and is used to bring related transac…

Card 2Purpose of Ledger

Why is a ledger prepared?

Answer

A ledger is prepared to get quick information about transactions, maintain proper control over different accounts, help in preparing the Trial Balance, and support the preparation of financial stateme…

Card 3Ledger Posting

What is ledger posting?

Answer

Ledger posting is the process of transferring recorded information from day books or the Journal to the relevant ledger accounts according to accounting rules.

Card 4Ledger Format

What is the format of a ledger account?

Answer

A ledger account is prepared in T shape. The left side is the Debit side and the right side is the Credit side. It has columns for Date, Particulars, J.F., and Amount.

Card 5Ledger Columns

What does the J.F. column mean in a ledger account?

Answer

J.F. means Journal Folio. It records the page number of the book of original entry, that is, the Journal.

Card 6Ledger Format

What words are used on the debit and credit sides of a ledger account?

Answer

On the debit side, the word 'To' is prefixed. On the credit side, the word 'By' is prefixed.

Card 7Journal and Ledger

What is the Journal?

Answer

Journal is the Book of Original Entry. It is the book of chronological record from which entries are later posted into the ledger.

Card 8Journal vs Ledger

What is the difference between Journal and Ledger?

Answer

Journal is the Book of Original Entry and a chronological record. Ledger is the Book of Secondary Entry and an analytical record. Journal is the basis of posting, while ledger gives the final position…

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Frequently Asked Questions

What are the important topics in Ledger for NIOS Class 10 Accountancy?
Key topics in Ledger include Meaning and Purpose of Ledger, Format of a Ledger Account, Journal and Ledger: Differences, Posting of Journal Entries into Ledger. Study these first, then practise questions on each for the NIOS Class 10 board exam.
How many flashcards are available for Ledger?
There are 26 flashcards for Ledger covering key definitions, facts and ideas. A few sample cards are shown on this page.
How should I revise Ledger for the NIOS Class 10 board exam?
Learn the core ideas first, then work through the 44 practice questions on Ledger. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

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