state gov Kerala (കേരളം) PSC Divisional Accountant Test Series 2025 Accountancy Self Balancing Ledger System
Which of the following is/are regarded as advantage(s) of a self-balancing system?
(i) It fixes the responsibility of the ledger keeper as to the balancing of the ledger or ledger under his/her charge, and the person responsible for the mistake can be called upon to work overtime to locate it.
(ii) It enables preparation of interim accounts, without personal ledgers having to be balanced.
(iii) It is instrumental in strengthening the internal check.
(iv) The figures of total debtors and creditors are readily available.
1
(i), (ii) and (iii)
2
(ii) and (iii)
3
Only (i)
4
(i), (ii), (iii) and (iv)