Question

To which class each of the following Accounts belongs :

(i) Capital account
(ii) Depreciation account
(iv) Purchase account
(v) Cash account
(iii) Sales account
(vi) Prepaid insurance account​

Answer 1

Answer:

according to modern approach

1. capital account

2. expense account

4. expense account

5. asset account

3. revenue account

6. . expense/ revenue account