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

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प्रश्न

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

Discount received is a nominal account.

विकल्प

  • True

  • False

MCQ
सत्य या असत्य

उत्तर

This statement is True.
Discount received is an income for the business therefore discount received is a nominal 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. 4) | 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.

Accounts of Assets and Properties.


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Every debit has corresponding ____________


Select the most appropriate alternatives from the given below and rewrite the statement:

Machinery Account is ______ account.


Select the most appropriate alternatives from the given below and rewrite the statement:

Prepaid expenses is ______ account.


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

Capital account is a real account.


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

Drawings account is a nominal account.


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

Goodwill account is a real account.


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

Motor car account is a Real Account.


Fill in the blank:

Increase in capital is credited and decrease in capital is ______


Fill in the blank:

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


Fill in the blank:

Travelling expenses account is ______ type of Account


Fill in the blank:

______ accounts are accounts of properties and assets.


Fill in the blank:

Laptop account is a ______ account.


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

Cartage A/c


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Loss on Sale of Furniture A/c


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Computer A/c


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Fixed Deposit A/c


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

Trademark A/c


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

GST A/c (Goods and Service Tax)


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

Siddhivinayak Trust A/c


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Office Equipment A/c


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The stock of Stationery 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


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