Which of the following statements is incorrect regarding capital account??

Accounting Mcqs
BILAL KHATTAK0

A. Debit increases the capital account balance  
B. Credit increases the capital account balance
C. Fresh capital increases the capital account balance
D. Net income increases the capital account balance

Related Mcqs:

  1. The normal balance of capital account is_____________??
  2. If debit balance is greater than creadit balance then the account blance will be__________??
  3. The normal balance of liability account is____________??
  4. The normal balance of asset account is____________??
  5. If actual bad debts are more than the provision for bad debts, then there will be a_____________??
  6. Which of the following is the normal balance of a rent expense account??
  7. A few errors committed in Ahhiwalia’s books of account are given below. State which errors would affect the Trial Balance.?
  8. Which of the following account with normal balance is shown at the debit side of a trial balance??
  9. Goods in stock worth 800 are destroyed by fire and the Insurance Co. is accepted the claim for 600. Adjustment would involve?
  10. Which of the following statements is true??

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