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

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प्रश्न

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

Outstanding expense is a nominal account.

विकल्प

  • True

  • False

MCQ
सत्य या असत्य

उत्तर

This statement is False.
The amount payable to a person is known as an outstanding expense in the business. As a person is involved, the outstanding expense is nothing but 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. 1) | पृष्ठ ४०

संबंधित प्रश्न

Answer in one sentence only.

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Answer in one sentence only:

What is Personal Account?


Answer in one sentence only:

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Outstanding salary is a nominal account.


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Loan account is personal account.


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Bank loan account is a Nominal account.


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