Question 9 of 45beginner🧠 RememberMCQ1 mark

Balancing of account means:

Exercise: Test Your Understanding - I | Q: 1(i)
For More Understanding

Explanation

Balancing an account requires totaling both the debit and credit sides. The difference between the total of the debit side and the total of the credit side represents the balance. This amount is written on the shorter side to equalize the totals.

Solution Steps

  1. Step 1: Analyze the definition of balancing provided in the text, which states it involves totaling both sides and ascertaining the difference between them.

  2. Step 2: Match this definition to the given options. Option (C) 'Difference in total of debit & credit' correctly describes this process.

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