WorksheetsCLASSIFICATION OF ACCOUNT
Total questions: 30
Worksheet time: 14mins
DEPRECIATION A/c
PERSONAL
REAL
NOMINAL
Capital A/c
Personal
Real
Nominal
Prepaid Expenses A/c
Personal
Real
Nominal
None
Machinery A/c
Personal
Real
Nominal
Salary A/c
Personal
Real
Nominal
Sales A/c
Personal
Real
Nominal
Live Stock A/c
Personal
Real
Nominal
Goodwill A/c
Personal
Real
Nominal
Bad Debts A/c
Personal
Real
Nominal
Carriage Inward A/c
Personal A/c
Real A/c
Nominal A/c
Cash A/c
Personal A/c
Real A/c
Nominal A/c
Electricity is
liabilities
revenue
equity
assets
expenses
Office equipment is
assets
liabilities
equity
expenses
revenue
Machinery is
Assets
Liabilities
Equity
Expenses
Revenue
Which category does Trade payable belongs to?
Non-current asset
Current asset
Non-current liability
Current liability
Which category does Sales revenue belongs to?
Income
Expense
Debtors owe us money
True
False
Capital is a ______ account
Asset
Owner's Equity
Income
Expense
Liability
Patents
liabilities
expenses
equity
revenue
assets
Rent received
expenses
assets
revenue
equity
liabilities
These are assets that are permanent in nature. They are acquired for long term use and for physical use in the business.
A. Capital
B. Expenses
C. Fixed Assets
D. Liability
These are assets that are convertible to cash within a short period of time.
A. Capital
B. Current Assets
C. Income
D. Expenses
What are the examples of an asset?
A. Internet Bill, Water Bill, Salary
B. Mortgage, Promissory Notes, Payables
C. Trucks, Building, Cash
D. XZY, Capital, Star, Capital, Bloom, Capital
'Liabilities' are defined as.....
Items of value, owned by the busines
Debts of the business
Cash paid to individuals
Cash received from individuals
An asset is defined as.....
Items of value, owned by the busines
Debts of the business
Cash paid to individuals
Cash received from individuals
Owners Equity is described as
The debts of the business
The assets that the business has
The 'worth' of the business
The items that the owner sells
Money/Assets provided by the owner to the business is known as...
Drawings
Assets
Income
Capital
Money taken from the business by the owner for their personal use is _______
Drawings
Assets
Income
Capital
A person to whom amount is payable.
Debtor
Creditor
"State Bank of India" is which type of account
Real account
Personal account
Nominal account
