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महाराष्ट्र राज्य शिक्षण मंडळएचएससी कला (इंग्रजी माध्यम) इयत्ता ११ वी

State whether the following statement is True or False with reasons: Outstanding expense is nominal account. - Book Keeping and Accountancy

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प्रश्न

State whether the following statement is True or False with reasons:

Outstanding expense is a nominal account.

पर्याय

  • True

  • False

MCQ
चूक किंवा बरोबर
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उत्तर

This statement is False.
The amount payable to a person is known as an outstanding expense in the business. As a person is involved, the outstanding expense is nothing but a personal account.
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  या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
पाठ 2: Meaning and Fundamentals of Double Entry Book-Keeping - EXERCISE [पृष्ठ ४०]

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बालभारती Book Keeping and Accountancy [English] Standard 11 Maharashtra State Board
पाठ 2 Meaning and Fundamentals of Double Entry Book-Keeping
EXERCISE | Q 4. 1) | पृष्ठ ४०

संबंधित प्रश्‍न

Write one word/term or phrase which can substitute the following statement.

Name of the account which is debited when proprietor uses business money for personal use.


Write one word/term or phrase which can substitute the following statement.

Accounts of Assets and Properties.


Select the most appropriate alternatives from the given below and rewrite the statement:

Radha's Account is a type of ______ account.


Select the most appropriate alternatives from the given below and rewrite the statement:

Goodwill is ______ asset.


Select the most appropriate alternatives from the given below and rewrite the statement:

Prepaid expenses is ______ account.


State whether the following statement is True or False with reasons:

Capital account is a real account.


State whether the following statement is True or False with reasons:

Discount received is a nominal account.


State whether the following statement is True or False with reasons:

Drawings account is a nominal account.


Fill in the blank:

Debit what comes in and credit what goes out is the rule of ______ account.


Fill in the blank:

Travelling expenses account is ______ type of Account


Classify the following accounts under the types of Personal, Real and Nominal account:

Mr. Rohit’s capital A/c


 Classify the following accounts under the types of Personal, Real, and Nominal accounts:

Prepaid Rent A/c


Classify the following accounts under the types of Personal, Real and Nominal account:

Copyright A/c


Classify the following accounts under the types of Personal, Real and Nominal account:

Patent A/c


Classify the following accounts under the types of Personal, Real and Nominal account:

Outstanding Income A/c


Classify the following account under the types of Personal, Real and Nominal account:

Freight A/c


Classify the following account under the types of Personal, Real and Nominal account:

Live Stock A/c


Classify the following account under the types of Personal, Real and Nominal account:

Goods distributed as free sample A/c


Classify the following account under the types of Personal, Real and Nominal account:

Loss on Sale of Furniture A/c


Classify the following account under the types of Personal, Real and Nominal account:

Loan A/c


Classify the following account under the types of Personal, Real and Nominal account:

Audit Fees A/c


Classify the following account under the types of Personal, Real and Nominal account:

Loss by fire A/c


Classify the following account under the types of Personal, Real and Nominal account:

Motor Car A/c


Classify the following account under the types of Personal, Real and Nominal account:

Office Equipment A/c


Classify the following account under the types of Personal, Real and Nominal account:

The stock of Stationery A/c


Classify the following account under the types of Personal, Real and Nominal account:

Dividend on Investment Advance A/c


Classify the following account under the types of Personal, Real and Nominal account:

Discount A/c


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