A. Machinery account
B. Building account
C. Creditors account
D. Rent expenses account
Related Mcqs:
- A company was entered in hire purchase agreement and had to pay $1000 per month. Three payments were made via bank account but no entry was found in cash book. Identify the correct adjustment in cash book
A. $1000 will be added to cash book balance
B. $2000 will be deducted from cash book balance
C. $3000 will be added to cash book balance
D. $3000 will be subtracted from cash book balance - $5000 deposited in bank account was entered twice in the cash book. Identify the correct adjustment in cash book.
A. $5000 will be credited
B. $5000 will be debited
C. $10,000 will be credited
D. $10,000 will be debited - Building account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital - Office equipments account is classified as _________ account?
A. Nominal
B. Real
C. Cash
D. Capital - Which of the following is a Nominal A/c ?
A. Outstanding Salary A/c
B. Rent A/c
C. SBI A/c
D. Debtors A/c - Identify the correct sequence of accounting process
A. Communicating→Recording→Identifying
B. Recording→Communicating→Identifying
C. Identifying→communicating→recording
D. Identifying→recording→communicating - Identify the asset from the following:
A. Cash and cash equivalent
B. Creditors
C. Notes payable
D. Bank loan - Bank charges amounting to $5000 was not entered in the cash book. Identify the correct adjustment in cash book?
A. Bank charges will be debited in cash book
B. Bank charges will be added to cash book balance
C. Bank charges will be credited in cash book
D. Bank charges need no adjustment in cash book - Bank sent debit advice of $500 to company being interest on overdraft. It wasn’t entered in cash book. Identify the correct adjustment in cash book.
A. $500 will be debited
B. $500 will be credited
C. Non-adjustable
D. $1000 will be subtracted - Which of the following account with normal balance is shown at the credit side of a trial balance?
A. Cash account
B. Bank account
C. Equipment account
D. Accrued expenses account
The correct answer to the question: "Identify the nominal account" is "Rent expenses account ".
