PRC-1 · Chapter 3 · Question 19 of 100
The 'Receivables Ledger' maintained by 'Oasis Furniture' is fundamentally synonymous with which of the following terms?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: C) Sales Ledger
Explanation
The Receivables Ledger contains the individual accounts of customers to whom goods are sold on credit. It is therefore frequently referred to as the sales ledger or customer ledger.
More Ledgers and Trial Balance MCQs
- Q21In the General Journal of 'Radiant Motors', there is a column headed 'LF' (Ledger Folio). What is its primary administrative purpose?
- Q22Which of the following scenarios describes a 'Compensating Error' that will remain undetected by a Trial Balance?
- Q23When extracting a trial balance, which of the following accounts will typically present a credit balance?
- Q24Which of the following statements comprehensively defines the 'General Ledger'?
- Q25After extracting a trial balance, the accountant of 'Dynamic Corp' notices the debit column totals Rs. 500,000 and the credit column…