Question

both the questions. Each question carries six marks. (2x6=12)
10. Classify the following into Assets, Liabilities, Capital, Expenses Losses
and Revenue / Gain under American system.
a) Cash a/c
b) Salary a/c
c) Purchases a/c
d) Rent received a/c
e) Bank overdraft a/c
f) Capital a/c
g) Machinery a/c
h) Bills payable a/c
i) Drawings a/c
j) Copyrights a/c
k) Outstanding wages a/c
1) Charity a/c

Answer 1

Answer:

a asset

b expense

c expense

d income

e liability

f capital

g assets

h liability

I capital

j assets

k liability

l expense