State whether the following statement is True or False with reasons: Motor car account is a Real Account. - Book Keeping and Accountancy

MCQ

True or False

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

Motor car account is a Real Account.

This statement is True.

Motor car is an asset for the business and asset account is real account.

Concept: Classification of Accounts

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Chapter 2: Meaning and Fundamentals of Double Entry Book-Keeping - Exercises [Page 40]

Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping
Exercises | Q 4. 11) | Page 40

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