RULES OF DEBIT & CREDIT

Drawing account is a

• Personal account

• Real account

• Nominal account

• None of these

Debit the receiver, credit the (a)   Is the rule for personal account

Goodwill account is a (a)   Account.

Capital account is a a

• Natural personal account

• Artificial personal account

• Representative personal account

• None of these

Debit what comes in and credit what goes out is the rule of (a)   account.

Sundry creditors account is a ........

• Revenue account

• Capital account

• Liability account

• None of these

An decrease in which of the following account will be recorded on the the debit side?

• Purchases account

• Bills receivable account

• Patents account

• Bills payable account

Outstanding expenses are classified as

• Liability account

• Asset account

• Revenue account

• Capital account

Sales account is a

• Liability account

• Capital account

• Revenue account

• None of these

Machinery is

• Real account

• Nominal

• Personal

• All of the above