BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
Cash belongs to which account under accounting system?
|
|
Personal
|
|
|
Nominal
|
|
|
Real
|
|
|
Impersonal
|
Explanation:
Detailed explanation-1: -As cash is a tangible asset, it will be a part of the company’s real account. Also, capital belongs to the personal account.
Detailed explanation-2: -The ledger accounts which contain transactions related to the assets or liabilities of the business are called Real accounts. Accounts of both tangible and intangible nature fall under this category of accounts, i.e. Machinery, Buildings, Goodwill, Patent rights, etc.
There is 1 question to complete.