i. _______ Balance on Nominal Account shows expenses or loss. ii. Cash account always shows _______ balance.

Monjur Alahi

Fill in the blanks:

i. _______ Balance on Nominal Account shows expenses or loss.

ii. Cash account always shows _______ balance.

iii. The right hand side of an account is called _______ side.

iv. Creditors shows _______balance.

v. ______________ accounts are closed by transferring its balances to Profit and Loss Account.

vi. ‘b/d’ means ______________

vii. Rent paid for the residential quarter will be debited to ______________ account.

viii. Sold goods of ₹ 24,000 at 20% Profit on cost, the purchase price of the goods is ______________


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Salim Ahmed Kawsar

Call

i. debit

ii. debit

iii. credit

iv. credit

v. Nominal

vi. brought down

vii. Drawings

viii. ₹ 20,000

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