Rules of debit and credit- 2

On which side will the decrease in bank overdraft be recorded.

• Debit side

• Credit side

Outstanding expenses are classified as

• Liability account

• Asset account

• Revenue account

• Capital account

Debit all expenses and losses credit all incomes and gain is a rule of........ Account

Debit means an increase in liability. Is the statement true or false

Sales account is a

• Liability account

• Capital account

• Revenue account

• None of these

Name the side on which increase in the commission received is recorded?

Mention the nature of accrued commission account on the basis of modern classification of accounts.

• Asset account

• Expense account

• Revenue account

• Liability account

On which side will the increase in following account be recorded.

Debtor account

Bad debts recovered is a personal account real account or nominal account

• Real account

• Personal account

• Nominal account

Rent paid has a debit balance or a credit balance?