Capital Account is ……………… account
(a) Personal
(b) Real
(c) Nominal
(d) None of the above
Trade mark is a ………….. .
(a) Tangible Real Account
(b) Intangible Real Account
(c) Representative Personal Account
(d) Nominal Account
Joint venture account is:
(a) Personal account
(b) Real account
(c) Nominal account
(d) None of these
Income and expenditure Account of non-profit organisation is a
(a) Real Account
(b) Nominal Account
(c) Personal Account
(d) Representative Personal Account
Which one of the following statements is correct?
(a) Increase in Liabilities are credits and decrease are debits
(b) Increase in assets are credits and decrease are debits
(c) Increase in capital are debits and decrease are credits
(d) Increase in expenses are credits and decrease are debits
Premium on redemption of debenture is
(a) Nominal A/c
(b) Real A/c
(c) Personal Account
(d) None of these
Prepaid Salary is which type of account?
(a) Personal Account
(a) Real Account
(c) Nominal Account
(d) Real and Nominal Both
Commission received is
(a) Real account
(b) Nominal account
(c) Personal account
(d) Liability
General Reserve Account and Dividend Equalization Account are
(a) Personal account
(b) Real account
(c) Nominal Account
(d) None of these
Credit means:
(a) Decrease in assets account
(b) Make payment early before due date
(c) To evade tax
(d) All the three
