Advertisements
Advertisements
Question
Answer in one sentence only:
State the meaning of Real Account.
Advertisements
Solution
Accounts represent assets and properties owned by the business having monetary value are known as Real Account.
APPEARS IN
RELATED QUESTIONS
Answer in one sentence only:
What is Personal Account?
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 Expenses and Losses and Incomes and Gains.
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:
Machinery Account is ______ account.
Select the most appropriate alternatives from the given below and rewrite the statement:
Goodwill is ______ asset.
State whether the following statement is True or False with reasons:
Outstanding expense is a nominal account.
State whether the following statement is True or False with reasons:
Drawings account is a nominal account.
State whether the following statement is True or False with reasons:
Goodwill account is a real account.
State whether the following statement is True or False with reasons:
Discount account is a nominal account.
Fill in the blank:
Laptop account is a ______ 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:
Drawing A/c
Classify the following accounts under the types of Personal, Real, and Nominal accounts:
Cartage 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:
Commission Received A/c
Classify the following account under the types of Personal, Real and Nominal account:
Plant and Machinery 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:
Radhika’s 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:
Computer A/c
Classify the following account under the types of Personal, Real and Nominal account:
Legal Expenses 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:
Trademark A/c
Classify the following account under the types of Personal, Real and Nominal account:
GST A/c (Goods and Service Tax)
Classify the following account under the types of Personal, Real and Nominal account:
Siddhivinayak Trust A/c
Classify the following account under the types of Personal, Real and Nominal account:
Discount A/c
