Multiple Choice
Which of the following is wrong?
A) all real and personal accounts are transferred to balance sheet
B) nominal accounts are transferred to p & l account
C) each account is opened separately in ledger
D) rent is a personal account, outstanding rent is nominal account
Correct Answer:
Verified
Correct Answer:
Verified
Q10: The process of recording financial data upto
Q11: Profit and loss account is a<br>A)personal account<br>B)real
Q12: Provision for discount on debtors is calculated
Q13: Human resources will not appear in the
Q14: Commission paid is a<br>A)personal account<br>B)real account<br>C)nominal account<br>D)representative
Q16: Which of the following is not a
Q17: Outstanding salary account is a<br>A)natural personal account<br>B)artificial
Q18: Value of goods withdrawn by the proprietor
Q19: Which accounting concept specifies the practice of
Q20: Co-operative societies is an example of<br>A)personal account<br>B)real