Cash is an example of

A. Personal Account

B. Real Account

C. Nominal Account

D. Both (a) and (b)

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  1. An expense incurred to keep the machine in working condition is a capital expenditure.
  2. All indirect expenses are charged against
  3. Arrange the steps of accounting in sequential order - (i) Trial Balance; (ii) Journal Entry; (iii) Balancing…
  4. If the totals of debit and credit columns of a Trial Balance are equal, it implies correctness of books…
  5. Providing depreciation ensures sufficient cash for asset replacement.
  6. All events are transactions but all transactions are not events.
  7. Trial Balance is prepared after the preparation of Profit and Loss Account.
  8. Cash is an example of
  9. Any type of error affects the agreement of Trial Balance.
  10. Capital + Long-term liabilities = Fixed Assets + Current Assets + Cash - Current Liabilities.
  11. E. & O.E.
  12. The accounts of a company may be maintained using Single Entry System of Book Keeping also.
  13. Expenditure, which result in acquisition of permanent assets, is a capital expenditure.
  14. WDV stands for
  15. Fixed Assets are stated in the balance sheet at their market value.
  16. Copyright is an example of
  17. The aggregate of direct material, direct labour and direct expenses is known as
  18. Choose the odd one out
  19. The first step of accountancy is
  20. Wages and Salaries is a charge against
  21. WIP stands for
  22. Depreciation cannot be provided in case of loss, in a financial year.
  23. Which of the following events is not a transaction?
  24. The cost of a machine is Rs.6,00,000. The rate of depreciation is 10%. The depreciation for the 3rd…
  25. All credit sales are recorded in
  26. Deferred Revenue Expenditure is current year's revenue expenditure to be paid in latter years.
  27. Transfer to General Reserve is a charge against
  28. Which of the following equation(s) is(are) true
  29. Net Realisable Value of an asset means
  30. Bank Reconciliation statement is prepared to arrive at the Bank Balance.