Related InterviewSolutions

• Sale of goods to Ram for cash is debited toA. RamB. Cash A/cC. Sales A/cD. None of these
• Salaries Account isA. an Expense AccountB. an Asset AccountC. a Liability AccountD. None of these
• Bank account is aA. Personal AccountB. Real AccountC. Nominal AccountD. None of these
• Drawings Account is aA. Personal AccountB. Real AccountC. Nominal AccountD. None of these
• Ajay , a dealer in furniture , received advance against sales of tables and chairs . In your opinion how should this advance be treated and why ?
• Outstanding salary is aA. Real AccountB. Personal AccountC. Nominal AccountD. None of these
• Rent is paid for the month of April , 2019 in March , 2019 . The accounting year ended on 31st March , 2019 . The accountant has shown it on the assets side of the Balance Sheet. Has he given the correct treatment ? Give reasons.
• Sundry Creditors Account is aA. Revenue AccountB. Capital AccountC. Liability AccountD. None of these
• Which of the following accounts has a credit balance ?A. Carriage InwardB. Discount ReceivedC. Carriage AccountD. Discount Allowed
• Nominal Accounts are related toA. Assets and LiabilitiesB. Expenses and RevenueC. Debtors and CreditorsD. None of these