Question

Q.4 State whether the following statements are True or False with reasons.
1) Outstanding expense is nominal account.
2) Capital account is a real account.
3) Every debit has equal and corresponding credit.
Discount received is a nominal account.
5) Drawings account is a nominal account.
4)​

Answer 1

Answer:

1)True.

2)False.(Capital account is a personal account.)

3)True.

4)True.

5)False.(Drawing account is a personal account.)

Explanation:

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