The normal balance of capital account is_____________?

Related Mcqs:

Transferring entries from journal to ledger account is commonly known as____________?

A. Recording B. Transferring C. Posting D. Entry making...

The normal balance of liability account is____________?

A. Debit balance B. Credit balance C. Cash balance D. Neither debit nor credit balance...

Which of the following statements is incorrect regarding capital account?

A. Debit increases the capital account balance B. Credit increases the capital account balance C. Fresh capital increases the capital account balance D. Net income increases the capital account balance...

Which of the following is the normal balance of a rent expense account?

A. Credit balance B. Cash balance C. Overdraft D. Debit balance...

Revenue and expense accounts are referred as______________?

A. Nominal accounts B. Real account C. Cash accounts D. Banks account...