Question

Classify the following into assets,liabilities,capital,expense and revenue a)depreciation b) good will c) bank overdraft d) interest paid e) bills payable A/C f)Accrued commission A/C

Answer 1

Explanation:

Capital is goodwill

Asset is Depreciation

Liabilities is Bills payable,Bank O/D

Expenses is Interest paid

Revenue is Accrued Commision.