Question

Write True or False
a) Capital Account always shows a credit balance. b) Outstanding wages is a Nominal Account. c) Purchase of machinery is shown in Trading Account on debit side. d) Total Assets need not be equal to Total liabilities. e) In Tally the key pressed for stock journal entry is F7 f) The highest level of information on inventory is primary stock group. g) Delivery Note voucher is used to record delivery of goods to customers. h) Stock journal voucher is used to record transfer of stock from one location to another location. i) F1 is the key pressed to select a company in Tally. j) In Tally Default stock category is primary. k) It is compulsory for a partner to contribute capital in business. l) Drawing A/c is transferred to partner's Loan A/c​

Answer 1

Answer:

a )false b) false C) false

Explanation:

nono the given sentence for as capital account not always contains credit balance capital account also contains a debit balance.

b)outstanding salary is a personal account because it relates to actual person so, it does not come under nominal account.

C)machinery is debited when machine is purchased the journal entry is machinery.