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Personal Real Nominal Mcqs
Personal Real Nominal Mcqs
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Answer: Option C
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Answer: Option B
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Answer: Option A
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Answer: Option B
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Answer: Option B
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28) Nominal accounts are related to
(A) Asset
(B) Liability
(C) Creditor
(D) Expense + Income
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Answer: Option D
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Answer: Option B
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Answer: Option A
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Answer: Option C
12) The accounts, which have their existence even after the close of the year, are known as
(A) Nominal accounts
(B) Real accounts
(C) Personal accounts
(D) Tangible accounts
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Answer: Option B
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Answer: Option C
16) The entry system in which cash account and personal accounts are maintained is called
(A) Double Entry System
(B) Single Entry System
(C) Accounting System
(D) None of these
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Answer: Option B
17) The concept of recording dual aspect concept of business transactions is called
(A) Double Entry System Concept
(B) Dual Recording Concept
(C) Dual Aspect Concept
(D) None of these
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Answer: Option A
1) The basic rule, debit what comes in and credit what goes out is applicable to
(A) Personal accounts
(B) Natural personal accounts
(C) Nominal accounts
(D) Real accounts
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Answer: Option B
2) The claim of the outsiders against the assets of the business is called
(A) Loans
(B) Sundry Creditors
(C) Liabilities
(D) Capital
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Answer: Option C
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Answer: Option B
4) The basic rule of bookkeeping debit the receiver and credit the giver
(A) Personal accounts
(B) Real accounts
(C) Nominal accounts
(D) Valuation accounts
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Answer: Option A
5) The rule of debit all expenses and losses and credit all gains and income is applicable to
(A) Real accounts
(B) Nominal accounts
(C) Personal accounts
(D) Artificial Personal accounts
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Answer: Option B
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Answer: Option C
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Answer: Option A
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Answer: Option D
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Answer: Option A
10) Accounts which keep the record of properties owned by a trader, are called
(A) Personal accounts
(B) Real accounts
(C) Nominal accounts
(D) None of these
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Answer: Option B