Advertisements
Advertisements
Question
Fill in the blank:
Debit what comes in and credit what goes out is the rule of ______ account.
Advertisements
Solution
Debit what comes in and credit what goes out is the rule of 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:
Machinery Account 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:
Loan account is personal account.
State whether the following statement is True or False with reasons:
Discount account is a nominal account.
State whether the following statement is True or False with reasons:
Motor car account is a Real Account.
State whether the following statement is True or False with reasons:
Bank loan account is a Nominal 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:
Outstanding Income A/c
Classify the following accounts under the types of Personal, Real and Nominal account:
Prepaid Expenses 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:
Outstanding Wages 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:
Fixed Deposit 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:
Loss by fire 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
