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

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MCQ
True or False

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

Motor car account is a Real Account.

Options

  • True

  • False

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Solution

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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APPEARS IN

Balbharati Book-keeping and Accountancy 11th Standard HSC Maharashtra State Board
Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping
Exercises | Q 4. 11) | Page 40
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