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 (a)   Account

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

(a)  

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?

(a)  

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

(a)  

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?

(a)