A Balance sheet shows only __________________.

Personal accounts and nominal accounts.

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Real account and nominal accounts.

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Personal accounts and real accounts.

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Personal, real and nominal accounts.

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Solution

The correct option is C Personal accounts and real accounts.
Balance Sheet shown the assets and liabilities which includes real account and personal account.
Assets are real account which includes land, building, furniture etc.
Personal Account includes personal account of debtors and creditors.

Hence , Balance Sheet shows only the real account and personal account.

Suggest Corrections

Similar questions

Q. Select the most appropriate answer the alternatives given below and rewrite the Sentences.

Under Single entry System only _______________.
a) Personal accounts and cash A/c are opened
b) Real accounts are opened
c) Nominal accounts are opened
d) Real and nominal accounts are opened,

Q. Income & Expenditure A/c is prepared by transfer of :
(I) Nominal accounts
(II) Real accounts
(III) Personal accounts
The correct answer is ___________________.

State whether the following statements are True or False.

1) Prepaid insurance is nominal account.
2) Personal transactions of proprietor are recorded in the books of account of business.
3) Every debit has equal and corresponding credit.
4) Loan account is personal account.
5) Drawing account is a real account.
6) Commission received is a nominal account.
7) Outstanding wages is a nominal account.
8) Bank of India is an example of real account.
9) An order placed for the goods, entry is passed/recorded in the book of account.
10 Every transaction has only on effect

Q. Which of the following statement contains all the types of account i.e. personal, real and nominal account?

Q. Which of the following statement contains all the types of account i.e., personal, real & nominal account?

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