A. Credit balance
B. Cash balance
C. Overdraft
D. Debit balance
0
Which of the following statements is incorrect regarding capital account?
0
The normal balance of liability account is____________?
A. Debit increases the capital account balance
B. Credit increases the capital account balance
C. Fresh capital increases the capital account balance
D. Net income increases the capital account balance
0
The normal balance of asset account is____________?
A. Debit balance
B. Credit balance
C. Cash balance
D. Neither debit nor credit balance
0
The normal balance of capital account is_____________?
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
0
If debit balance is greater than creadit balance then the account blance will be__________?
A. Credit balance
B. Debit balance
C. Cash balance
D. Neither debit nor credit balance
0
Which of the following is known as the base for preparing trial balance?
A. Credit balance
B. Debit and credit balance
C. Cash balance
D. Debit balance
0
_________ will be credited if goods are given as charity?
A. Journal
B. Cash account
C. Ledger account
D. Balance sheet
0
If debit side of a bank account is greater than credit side it indicates which of the following?
A. Cash
B. Charity
C. Purchases
D. Sales
0
If credit side of a bank account is greater than the debit side, it indicates which of the following?
A. Cash at bank
B. Bank understatement
C. Bank overdraft
D. Balance overstatement
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