The rule debit all expenses and losses and credit all income and gains relates to
A) Personal account
B) Real account
C) Nominal accounts
D) All
Correct Answer:
Verified
Q15: Business enterprise is separate from its owner
Q16: Debit the receiver & credit the giver
Q17: Cash a/c is a _.
A)Real a/c
B)Nominal
C)Personal
D)None
Q18: As per the Matching concept, Revenue -
Q19: Which of the following is not a
Q20: Historical cost concept requires the valuation of
Q21: Profit and loss is calculated at the
Q23: The comparison of financial statement of one
Q24: For every debit there will be an
Q25: A trader calculated his profit as Rs.150000
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