Which of the following statements is/are true?
(i) Drawings Account is a Nominal Account
(ii) Capital Account is a Real Account
(iii) Sales Account is a Nominal Account
(iv) Outstanding salaries account is a Nominal Account
(v) Patents Account is a Personal Account
A) Only (i) above
B) Only (iii) above
C) Both (ii) and (iii) above
D) Both (ii) ,(iv) and (v) above
Correct Answer:
Verified
Q10: Purchase of goods on credit
A)Increases Liabilities
B)Increases Assets
C)Increases
Q11: Which of the following is not an
Q12: The process of balancing of an account
Q13: Ledger is also called
A)Principal book of accounts
Q14: Which of the following transactions of a
Q16: The entry to record the collection of
Q17: ABC Ltd. makes payments to its Sundry
Q18: R Ltd. makes purchases on credit. If
Q19: If Office Equipment is purchased for cash,
Q20: The periodical total of discount column on
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