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Select the most appropriate alternatives from the given below and rewrite the statement: Prepaid expenses is . . . . . . . . . . . . account. - Book Keeping and Accountancy

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Question

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

Prepaid expenses is ______ account.

Options

  • Real

  • Personal

  • Nominal

  • Income

MCQ

Solution

Prepaid expenses is a Personal account.

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Classification of Accounts
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Chapter 2: Meaning and Fundamentals of Double Entry Book-Keeping - EXERCISE [Page 39]

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Balbharati Book Keeping and Accountancy [English] 11 Standard Maharashtra State Board
Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping
EXERCISE | Q 3. 7) | Page 39

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