Drawings account is the nature of
A) Personal Account
B) Real Account
C) Nominal Account
D) None of the above
Correct Answer:
Verified
Q42: Value of goods withdrawn by the proprietor
Q43: M/s Stationery Mart will debit the purchase
Q44: Goods distributed as free samples is debited
Q45: Journal entry for wages paid Rs. 5,000
Q46: Interest of Drawings is:
A)Expenditure for the business
B)Expense
Q48: Outstanding Salaries are shown as:
A)An Expense
B)A Liability
C)An
Q49: Income tax paid by a sole proprietor
Q50: The Income created but not yet received
Q51: The income earned but not yet received:
A)Accrued
Q52: The closing stock in adjustment is shown
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents