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Nature of Accounts & Rules of Debit & Credit

Authored by Sir. Tanveer

Business

11th Grade - University

Used 58+ times

Nature of Accounts & Rules of Debit & Credit
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14 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Personal accounts are related to-

Assets & Liabilities

Expenses, losses, incomes

Customers, Creditors

None of these

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Real accounts are related to-

Assets

Expenses, losses, incomes

Customers and creditors

None of these

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Nominal accounts are related to-

Assets & liabilities

Expenses, losses and incomes

Customers and Creditors

None of these

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

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

Personal Accounts

Nominal Accounts

Real Accounts

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Increase in asset will be-

Debit

Credit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Decrease in asset will be-

Debit

Credit

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