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WorksheetsBASIC ACCOUNTING SKILLS
Total questions: 15
Worksheet time: 11mins
A decrease to cash is a _______?
Rules for Real Account is
Debit what comes in Credit what goes out
Debit all Expenses and Lossess credit all incomes and gains
Debit the receiver credit the giver
None of the above
The accounts that records expenses, gains and losses are
(A) Personal accounts
(B) Real accounts
(C) Nominal accounts
(D) None of the above
Debit the receiver & credit the giver is _____ account
a) Personal
b) Real
c) Nominal
d) All the above
Which of the following is a Real A/c?
a) Building A/c
b) Capital A/c
c) Shyam A/c
d) Rent A/c
An increase in a liability account is recorded as a
Debit
Credit
A decrease in an asset account is recorded as a
Debit
Credit
A decrease in the owner's capital account is recorded as a
Debit
Credit
The payment of a liability is recorded by a debit to the liability account and a credit to the owner's capital account.
True
False
A credit to an account always increases it; a debit to an account always decreases it.
True
False
