state gov Kerala (കേരളം) PSC Divisional Accountant Test Series 2025 Accountancy Self Balancing Ledger System
With respect to self-balancing system, which of the following statement(s) is/are correct?
(i) Adjustment Account: It is an account which helps in meeting the double entry in each ledger and makes it self-balancing.
(ii) Creditor's Ledger: It is a ledger containing the personal accounts of all the trade creditors.
(iii) Debtors' Ledger: It is a ledger containing the personal accounts of all the trade debtors.
(iv) General Ledger: It is a ledger that includes all accounts other than personal accounts of trade debtors and trade creditors.
1
(ii) and (iii)
2
(i), (ii), (iii) and (iv)
3
(i), (ii) and (iii)
4
Only (i)