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.Management Sciences
Category: Ledger
Revenue and expense accounts are referred as______________?
A. Nominal accounts
B. Real account
C. Cash accounts
D. Banks account
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 is known as the base for preparing trial balance?
A. Journal
B. Cash account
C. Ledger account
D. Balance sheet
Posting is the process of____________?
A. Posting the letters in drop box
B. Posting suitable person to a suitable job
C. Entering in the ledger the information contained in the ledger
D. All the three
The real accounts are accounts of Assets, liabilities and ___________?
A. Expenses
B. Revenues
C. Capital
D. Drawing
The normal balance of asset account is____________?
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
Which of the following statements is/are true ?
A. A sale of an asset is recorded in the Sales Book
B. Total of Return Outward Book is debited to Return Outward Account
C. The balance of Petty Cash Book is a liability
D. Cash Book is a subsidiary book as well as a ledger
Which of the following is the closing balance of a ledger account?
A. Balance c/d
B. Balance b/d
C. Balance e/d
D. Balance f/c
_________ will be credited if goods are given as charity?
A. Cash
B. Charity
C. Purchases
D. Sales
Building account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital
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