Which of the following is the normal balance of a rent expense account?
A. Credit balance
B. Cash balance
C. Overdraft
D. Debit balance
Ledger
Which of the following statements is incorrect regarding capital account?
Which of the following statements is incorrect regarding capital account?
A. Debit increases the capital account balance
B. Credit increases the capital account balance
C. Fresh capital increases the capital account balance
D. Net income increases the capital account balance
The normal balance of liability account is____________?
The normal balance of liability account is____________?
A. Debit balance
B. Credit balance
C. Cash balance
D. Neither debit nor credit balance
The normal balance of asset account is____________?
The normal balance of asset account is____________?
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
The normal balance of capital account is_____________?
The normal balance of capital account is_____________?
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
If debit balance is greater than creadit balance then the account blance will be__________?
If debit balance is greater than creadit balance then the account blance will be__________?
A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance
Which of the following is known as the base for preparing trial balance?
Which of the following is known as the base for preparing trial balance?
A. Journal
B. Cash account
C. Ledger account
D. Balance sheet
_________ will be credited if goods are given as charity?
_________ will be credited if goods are given as charity?
A. Cash
B. Charity
C. Purchases
D. Sales
If debit side of a bank account is greater than credit side it indicates which of the following?
If debit side of a bank account is greater than credit side it indicates which of the following?
A. Cash at bank
B. Bank understatement
C. Bank overdraft
D. Balance overstatement
If credit side of a bank account is greater than the debit side, it indicates which of the following?
If credit side of a bank account is greater than the debit side, it indicates which of the following?
A. Bank overdraft
B. Cash at bank
C. Bank balance
D. Current Asset