Match List – I with List – II.

Choose the correct answer from the options given below :

A-II, B-IV, C-I, D-III

The correct answer is option 4- A-II, B-IV, C-I, D-III.

* Claim of the proprietors- Owner's equity. Owner's Equity represents the owner's interest in the assets of the business after deducting all liabilities. It's often described as the residual interest in the assets of the entity after deducting liabilities.

* Transferring entries from books of original entry to- Ledger. A book containing all accounts to which entries are transferred from the books of original entry. Posting is the process of transferring entries from books of original entry to the ledger.

* Transactions recorded in chronological order- Journal. The transactions are first recorded in these books in a chronological order. Journal is one of the books of original entry. The process of recording entries in the journal is called journalising.

* Evidence of the transactions- Voucher. Business transactions are usually evidenced by an appropriate documents such as Cash memo, Invoice, Sales bill, Pay-in-slip, Cheque, Salary slip, etc. A document that provides evidence of the transactions is called the Source Document or a Voucher.