ACCOUNT AND TYPES

An account in accounting is .....

• When you go to the bank and deposit money

• a record of something we do

• a record in the general ledger that is used to sort and store transactions.

An example of account is ....

• money account

• computers account

• check account

If you purchase machinery using cash, what could be the accounts in the transaction?

• cash and bank

• cash and machinery

• bank and machinery

• none

Sales goods on account. What are the accounts in the transactions?

• Sales and account receivable

• sales and account payables

• Goods and cash

what are the types of accounts according to the traditional approach

• real, personal and nominal accounts

• real, personal and impersonal accounts

• real, nominal and objective accounts

Commission account is considered a

• personal account

• real account

• nominal account

Jhon's account and bank accounts are considered

• personal accounts

• real accounts

• nominal accounts

Chairs, Logos and stationery accounts are considered

• personal accounts

• real accounts

• nominal accounts