Nominal Account represents

Related MCQs

• There are 100 members each p aying an annual subscription of 500. The Receipt and Payment account shows arrear subscription of 4,500, advance subscriptions 6,000 and current 44,500. How much amount to be credited in the Income and Expenditure account?
• Income and Expenditure account shows subscription at 2,50,000. Subscriptions accrued in the beginning of the year and at the end of the year were 25,000 and 37,500 respectively. The amount of subscriptions received appearing in re ceipts and payments account will be
• Which financial statement represents the a ccounting equation as – Assets = Liabilities + Owner’s equity?
• Which financial statement represents the accounting equation “assets = liabilities + owners’ equity”
• Which of the following item is shown in the Receipt and Payment account?
• What is the nature of joint venture with co-venture account?
• Which of these errors affects only one account?
• At the end of the year Bad Debts Recovered Account is
• Life Insurance Corporation Account is a
• The Depreciation Account is closed at the end of the year by transfer to the