Identify which is wrong rule
A) Nominal account- debit all expenses & losses
B) Real account- credit what comes in
C) Nominal account- credit all incomes & gains
D) Personal account- debit the receiver
Correct Answer:
Verified
Q1: Which of the following is a Real
Q2: Cost concept basically recognises _.
A)Fair Market value
B)Historical
Q3: Double entry system is used in which
Q4: An accounting that deals with the accounting
Q6: The nature of financial accounting is:
A)Historical
B)Forward looking
C)Analytical
D)Social
Q7: The main object of cost accounting is:
A)To
Q8: Accounting principles are generally based upon:
A)Practicability
B)Subjectivity
C)Convenience in
Q9: The system of recording based on dual
Q10: P & L a/c is prepared for
Q11: All those to whom business owes money
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