Office equipments account is classified as _________ account?
(A) Nominal
(B) Real
(C) Cash
(D) Capital
The real accounts are accounts of Assets, liabilities and ___________?
(A) Expenses
(B) Revenues
(C) Capital
(D) Drawing
Revenue and expense accounts are referred as______________?
(A) Nominal accounts
(B) Real account
(C) Cash accounts
(D) Banks account
Which of the following is the normal balance of a rent expense account?
(A) Credit balance
(B) Cash balance
(C) Overdraft
(D) Debit balance
Capital of a business decreases if there is an increase in___________?
(A) Drawings
(B) Income
(C) Gains
(D) Fresh capital
Capital increases if _________ increases?
(A) Expenses
(B) Drawings
(C) Interest on capital
(D) Revenue
Calculate the amount of cash if: Total assets=$10,000 Total liabilities=$10,000 Total Capital=$5000
(A) $6000
(B) $10,000
(C) $5000
(D) $1000
Find out the value of assets if: Liabilities=$5000 and Capital=$1000
(A) $4000
(B) $6000
(C) $7000
(D) $3000
The process of recording is done?
(A) Two times a year
(B) once a year
(C) Frequently during the accounting period
(D) At the end of a accounting period