Which of the following is a charge against profit?

Impersonal Accounts contain?

A. real and cash accounts B. capital and nominal accounts C. real and normal accounts D. investment and real accounts E. interest received and real account Correct Answer: Option C – real and normal accounts
Which of the following is a charge against profit?

Discount received is shown in the?

A. credit side of sales ledger balances B. debit side of bought ledger balances C. credit side of bought ledger balances D. debit side of sales ledger balances E. sales ledger balances as a contra entry Correct Answer: Option B – debit side of bought ledger...

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