General Ledger & Trial Balance is one of 9 topics in the Grade 10 Accounting CAPS syllabus, covered across 3 lessons on Study Vault. Below are real practice questions from this topic with full worked answers.
Sample practice questions
Easy
1. The General Ledger is best described as:
The complete collection of all of a business's individual accounts
A single summary account for the whole business
Another name for the Cash Receipts Journal
A list of only the business's liabilities
Answer: The complete collection of all of a business's individual accounts — The General Ledger contains every individual account the business uses (Bank, Capital, Sales, Debtors Control, etc.), each kept as its own separate account.
Easy
2. Posting refers to:
Transferring entries and totals from the journals to the relevant General Ledger accounts
Writing up the original source document
Preparing the final Income Statement
Depositing cash at the bank
Answer: Transferring entries and totals from the journals to the relevant General Ledger accounts — Posting is the step where the amounts already recorded in the journals are transferred through to their correct individual accounts in the General Ledger.
Medium
3. A cash sale of R500 is posted in the ledger as:
A debit to Bank and a credit to Sales
A credit to Bank and a debit to Sales
A debit to Bank and a debit to Sales
A credit to Bank and a credit to Sales
Answer: A debit to Bank and a credit to Sales — The asset Bank increases (a debit) and the income account Sales increases (a credit), keeping the double-entry in balance.
