Welcome to your 13th AUG NATURE OF ACCOUNTS AND RULES OF ACCOUNTS QUIZ 1 CBT TEST
Fill the Details mentioned below and Attempt the Test.
Name
Email
School Name with City
Phone Number
Credit means
An increase in asset.
An increase in liability.
A decrease in liability.
A decrease in the proprietary’s equity.
Balance of Capital Account is shown as
Capital Account
Liability Account
Revenue account
None of these
Sale of goods to Ram for cash is debited to
Ram.
Cash A/c.
Sales A/c.
None of these.
Which of the following accounts has a credit balance?
Carriage Inward
Discount Received
Carriage Outward
Discount Allowed
Goodwill account is a
Personal Account.
Real Account.
Nominal Account.
None of these.
Drawings Account is a
Personal Account.
Real Account.
Nominal Account.
None of these.
Debit means
An increase in asset.
An increase in liability.
An increase in the proprietary’s equity.
A decrease in asset.
Withdrawal of cash from business by the proprietor is credited to
Drawings A/c.
Capital A/c.
Cash A/c.
Profit and Loss A/c.
Sundry Creditors Account is a
Revenue Account
Capital Account
Liability Account
None of these
Bank account is a
Personal Account.
Real Account.
Nominal Account.
None of these.
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