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      Question

      With respect to self-balancing ledgers, which of the

      statement is incorrect?
      A In self-balancing system “General Ledger Adjustment Account” is prepared in each of the subsidiary ledgers Correct Answer Incorrect Answer
      B In self-balancing system, always four ledgers, namely Debtor ledger, Creditor ledger, Suspense ledger and Main ledger (containing reaming accounts) are prepared Correct Answer Incorrect Answer
      C Self-balancing ledger system implies s system of ledger keeping which classifies ledgers as per nature of transactions Correct Answer Incorrect Answer
      D In order to reduce to a minimum the trouble and time involved in locating the errors, sometimes the system of self-balancing or sectional balancing of ledger is employed Correct Answer Incorrect Answer

      Solution

      The correct answer is B

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