Question

Match List-I with List-II

List-I (Term)	List-II (Interpretation)
(A) Journal	(I) The consumer reduces its consumption when its price falls and increases its consumption when its price rises
(B) Ledger	(II) As the price of a commodity rises, its supply extends and as the price falls, its supply contracts, with other things remaining the same
(C) Law of Supply	(III) The principal or chief book of account, also known as the final book of entry
(D) Giffen's Good	(IV) A book of account in which records of business transactions enter for the first time in a chronological order

Choose the correct answer from the options given below

• (A) - (I), (B) - (II), (C) - (III), (D) - (IV)
• (A) - (IV), (B) - (III), (C) - (II), (D) - (I)
• (A) - (I), (B) - (II), (C) - (IV), (D) - (III)
• (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Hint:

To distinguish between the books of account:
Journal = Original/first entry in chronological order (IV).
Ledger = Final entry/principal book (III).

Answer 1

The Correct Option is B