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How many category of accounts are there?

• 2

• 3

• 4

• 1

Rent, Salaries and Wages paid are

• Real accounts

• Personal accounts

• Nominal accounts

• None of these

Nominal accounts are related to

• Asset

• Liability

• Creditor

• Expense + income

Cash is a kind of? ____ account

• Real

• Personal

• Nominal

The accounts, which have their existence even after the close of the year, are known as_____ accounts

• Real

• Personal

• Nominal

• Tangible

The rule of debit all expenses and losses and credit all gains and income is applicable to _____accounts

• Real

• Personal

• Nominal

Real accounts are related to

• Assets

• Liabilities

• Customers, creditors

• Expenses ,losses and income

Account relating to person or a firm is called _____ account

• Real

• Personal

• Nominal

• All

A debit entry in a real account means

• a decrease of an expense

• a decrease in value of an asset

• an increase in an income

• an increase in value of asset

The main objective of book-keeping is to

• keep correct and complete record of business transactions

• find out profit or loss

• examine accuracy of business transactions