Account classifications

What type of Account is "Bank Overdraft"?

• Asset

• Liability

• Income

• Expense

What type of Account is "Loan from Bank"?

• Asset

• Liability

• Income

• Expense

What type of Account is "Motor Vehicles"?

• Asset

• Liability

• Income

• Expense

What type of Account is "Inventory"?

• Asset

• Liability

• Income

• Expense

What type of Account is "Petty Cash"?

• Asset

• Liability

• Income

• Expense

What type of Account is "VAT owing to HMRC"?

• Asset

• Liability

• Income

• Expense

What type of Account is "Trade payables"?

• Asset

• Liability

• Income

• Expense

What type of Account is "Purchases"?

• Asset

• Liability

• Income

• Expense

What type of Account is "Trade receivables"?

• Asset

• Liability

• Income

• Expense

What type of Account is "Sales"?

• Asset

• Liability

• Income

• Expense