PRC-1 · Chapter 3 · Question 32 of 100
In manual ledger accounting, when an account is balanced at the end of the month, the abbreviation 'Balance c/d' is often used. What does this abbreviation stand for, and what does it represent?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: A) Carried down; representing the closing balance of the period.
Explanation
The abbreviation 'c/d' stands for 'carried down'. It represents the closing balance inserted to mathematically equalize the debit and credit sides of a ledger account at the end of an accounting period.
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