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State whether the following statement is True or False with reasons: Capital account is a real account. - Book Keeping and Accountancy

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प्रश्न

State whether the following statement is True or False with reasons:

Capital account is a real account.

विकल्प

  • True

  • False

MCQ
सत्य या असत्य

उत्तर

This statement is False.
The amount invested by the owner in the form of goods, cash, or assets is known as capital. As the owner is involved in a transaction, the capital account is a personal account.
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Classification of Accounts
  क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
अध्याय 2: Meaning and Fundamentals of Double Entry Book-Keeping - EXERCISE [पृष्ठ ४०]

APPEARS IN

बालभारती Book Keeping and Accountancy [English] 11 Standard Maharashtra State Board
अध्याय 2 Meaning and Fundamentals of Double Entry Book-Keeping
EXERCISE | Q 4. 2) | पृष्ठ ४०

संबंधित प्रश्न

Answer in one sentence only:

State the meaning of Real Account.


Write one word/term or phrase which can substitute the following statement.

Name of the account which is debited when proprietor uses business money for personal use.


Write one word/term or phrase which can substitute the following statement.

Accounts of Assets and Properties.


State whether the following statement is True or False with reasons:

Discount received is a nominal account.


State whether the following statement is True or False with reasons:

Loan account is personal account.


State whether the following statement is True or False with reasons:

Discount account is a nominal account.


State whether the following statement is True or False with reasons:

Motor car account is a Real Account.


Fill in the blank:

Land and Building account is ______ account.


Fill in the blank:

Debit what comes in and credit what goes out is the rule of ______ account.


Classify the following accounts under the types of Personal, Real, and Nominal accounts:

Cartage A/c


Classify the following accounts under the types of Personal, Real and Nominal account:

Patent A/c


Classify the following account under the types of Personal, Real and Nominal account:

Freight A/c


Classify the following account under the types of Personal, Real and Nominal account:

Plant and Machinery A/c


Classify the following account under the types of Personal, Real and Nominal account:

Radhika’s A/c


Classify the following account under the types of Personal, Real and Nominal account:

Loss on Sale of Furniture A/c


Classify the following account under the types of Personal, Real and Nominal account:

Loan A/c


Classify the following account under the types of Personal, Real and Nominal account:

Computer A/c


Classify the following account under the types of Personal, Real and Nominal account:

Audit Fees A/c


Classify the following account under the types of Personal, Real and Nominal account:

Income tax A/c


Classify the following account under the types of Personal, Real and Nominal account:

Siddhivinayak Trust A/c


Classify the following account under the types of Personal, Real and Nominal account:

Indian Railways A/c


Classify the following account under the types of Personal, Real and Nominal account:

Discount A/c


Classify the following account under the types of Personal, Real and Nominal account:

Raj & company A/c


Classify the following account under the types of Personal, Real and Nominal account:

Royalty A/c


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