A. Nominal
B. Real
C. Cash
D. Capital
Building account is classified as _________ account? Read More »
Accounting MCQs / Q&A, Ledger A. Expenses
B. Revenues
C. Capital
D. Drawing
The real accounts are accounts of Assets, liabilities and ___________? Read More »
Accounting MCQs / Q&A, Ledger A. Nominal accounts
B. Real account
C. Cash accounts
D. Banks account
Revenue and expense accounts are referred as______________? Read More »
Accounting MCQs / Q&A, Ledger A. Credit balance
B. Cash balance
C. Overdraft
D. Debit balance
Which of the following is the normal balance of a rent expense account? Read More »
Accounting MCQs / Q&A, Ledger 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
Which of the following statements is incorrect regarding capital account? Read More »
Accounting MCQs / Q&A, Ledger A. Debit balance
B. Credit balance
C. Cash balance
D. Neither debit nor credit balance
The normal balance of liability account is____________? Read More »
Accounting MCQs / Q&A, Ledger A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
The normal balance of asset account is____________? Read More »
Accounting MCQs / Q&A, Ledger A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
The normal balance of capital account is_____________? Read More »
Accounting MCQs / Q&A, Ledger A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance
A. Journal
B. Cash account
C. Ledger account
D. Balance sheet
Which of the following is known as the base for preparing trial balance? Read More »
Accounting MCQs / Q&A, Ledger