Question

Nominal accounts are related to:
A. Assets
B. Expenses, Losses and income
C. Debtors and Creditors D. None of these
Purchase of goods from X for cash should be credited to:
A. Purchase
B. Cash
C. X
D. Stock
Amount which the owner has invested in business known as ............
A. Liability
B. Assets
C. Drawings
D. Capital
Refer to those liabilities which are to be paid normally within
A: Non-Current Liabilities
B. Current Liabilities
C. Trade Receivables
D. Bank Loan
Rule of ............... Alc is "Debit the receiver and credit the give
A. Real
B. Personal
C. Nominal
D. Impersonal​

Answer 1

Answer:

1) B.

2) B.

3)D.

4) B.

5) B.

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