WorksheetsAccounts 2
Total questions: 10
Worksheet time: 7mins
which of the following equation is correct?
Liabilities=Assets+capital
Capital = Asset - Liabilities
Capital= Asset + Liabilities
None of the above
Personal a/c includes representative, natural and -------Personal account?
Real
Nominal
Artificial
Superficial
Name the account that represents a person/ group ?
Artificial Personal a/c
Natural Personal a/c
Impersonal a/c
Representative personal a/c
Debit the receiver and credit the giver is the rule of
Personal a/c
Nominal a/c
Real a/c
All of the above
Impersonal a/c are sub divided into
Artificial and Natural a/c
Representative and Real a/c
Real and Nominal a/c
Nominal and Normal a/c
under Nominal a/c, All incomes and gains are
Debited
Credited
Both
None
Under modern classification, Accounts are divided as
(a)
debit means
Increase in asset
Decrease in asset
Increase in liability
Increase in Capital
According to going concern concept, a business is viewed as having
A limited life
An indefinite life
A very long life
None of the above
If the capital of the business is Rs.70,000 and liabilities are Rs.40,000, calculate the total assets
1,20,000
30,000
1,10,000
50,000
