Which of the following is a real account?
A. Office equipment
B. Rent expenses
C. Rent income
D. Insurance expense
___________ helps business to classify transactions according to their nature?
___________ helps business to classify transactions according to their nature?
A. General journal
B. Real accounts
C. Ledger accounts
D. Cash accounts
Office equipments account is classified as _________ account?
Office equipments account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital
Building account is classified as _________ account?
Building account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital
The real accounts are accounts of Assets, liabilities and ___________?
The real accounts are accounts of Assets, liabilities and ___________?
A. Expenses
B. Revenues
C. Capital
D. Drawing
Revenue and expense accounts are referred as______________?
Revenue and expense accounts are referred as______________?
A. Nominal accounts
B. Real account
C. Cash accounts
D. Banks account
Which of the following is the normal balance of a rent expense account?
Which of the following is the normal balance of a rent expense account?
A. Credit balance
B. Cash balance
C. Overdraft
D. Debit balance
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