Nature of Accounts & Rules of Debit & Credit

Personal accounts are related to-

• Assets & Liabilities

• Expenses, losses, incomes

• Customers, Creditors

• None of these

Real accounts are related to-

• Assets

• Expenses, losses, incomes

• Customers and creditors

• None of these

Nominal accounts are related to-

• Assets & liabilities

• Expenses, losses and incomes

• Customers and Creditors

• None of these

The basic rule of book-keeping, Debit the receiver and Credit the giver is applicable to-

• Personal accounts

• Real accounts

• Nominal accounts

• None of these

Accounts which keep records of expenses, gain and losses are called: (2018)

• Personal Accounts

• Nominal Accounts

• Real Accounts

Increase in asset will be-

• Debit

• Credit

Decrease in asset will be-

• Debit

• Credit

The decrease in owner's equity account will be-

• Debit

• Credit

• None of these

The increase in expenses and losses will be-

• Debit

• Credit

• None of these

Mr. Tanoli started business with cash, His capital account will be_______ and cash account will be_______

• Credit, Debit

• Debit, Credit

• None of these