Find out the value of assets if: Liabilities=$5000 and Capital=$1000

A: $4,000

B: $6,000

C: $7,000

D: $3,000

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$6,000

Which of the following is the normal balance of a rent expense account?

A: Credit balance

B: Cash balance

C: Overdraft

D: Debit balance

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Debit balance

Revenue and expense accounts are referred as______________?

A: Nominal accounts

B: Real account

C: Cash accounts

D: Banks account

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Nominal accounts

The real accounts are accounts of Assets, liabilities and ___________?

A: Expenses

B: Revenues

C: Capital

D: Drawing

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Capital

Building account is classified as _________ account?

A: Nominal

B: Real

C: Cash

D: Capital

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Real

Office equipments account is classified as _________ account?

A: Nominal

B: Real

C: Cash

D: Capital

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Real

___________ helps business to classify transactions according to their nature?

A: General journal

B: Real accounts

C: Ledger accounts

D: Cash accounts

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Ledger accounts

Which of the following is a real account?

A: Office equipment

B: Rent expenses

C: Rent income

D: Insurance expense

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Office equipment

Which of the following accounts are closed at the end of an accounting period?

A: Nominal accounts

B: Balance sheet accounts

C: Real accounts

D: None of them

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Nominal accounts

Which of the following is the closing balance of a ledger account?

A: Balance c/d

B: Balance b/d

C: Balance e/d

D: Balance f/c

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Balance c/d

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