Account Type Challenge

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Parties jouées 6

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Real, personal or nominal?

Beena Antu

United Arab Emirates

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Account Type Challenge


Account Type ChallengeVersion en ligne Real, personal or nominal? par Beena Antu 1 1) Cash in hand is an example of a Liability b asset c expense d Income 2 2) Interest received during the year are a Income b expense c Asset d liability 3 3) Shyam Kapoor’s capital comes under a Liability b Fixed asset c Income d Owners equity 4 4) Salary paid to employees is nature a Expense b Income c Current liability d Long term liability 5 5) Furniture purchased for business - effect of furniture a Furniture increased b cash increased c Creditors increased d capital increased 6 Asset= a C-L b L-C c A-C-L d C+L 7 7) Drawings by the proprietor are a amount invested b Amount spent c amount earned d Amount taken from business 8 8) Purchase of machinery on credit , which party increses a Debtors b owner c Creditor d partner 9 9) Investments by owner into business are which account type? a capital b Drawings c Expense d Income Feedback 1 Cash in hand is a current asset 3 Capital is otherwise called owners equity