Which of the following is the normal balance of a rent expense account??
A. Credit balance
B. Cash balance
C. Overdraft
D. Debit balance
A. Credit balance
B. Cash balance
C. Overdraft
D. Debit balance
A. $5000
B. $10,000
C. $15,000
D. $20,000
A. Office equipment
B. Rent expenses
C. Rent income
D. Insurance expense
A. Accounting
B. Accountancy
C. Auditing
D. Book Keeping
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
A. Surplus cash
B. Bank overdraft
C. Terms deposits with bank
D. None of these
A. Benefits the current accounting period
B. Will benefit the next accounting period
C. Results in the acquisition of a permanent asset
D. Results in the acquisition of a current asset
A. Double entry system
B. American system
C. Single entry system
D. Italic system
A. Errors in cash book
B. Errors in pass book
C. Cheques deposited and cleared
D. Cheques issued but not presented for payment
A. Ledger accounts balances
B. Balance sheet balances
C. Income statement balances
D. Cash flow statement balances