All expenses account show ________ balance.

Debit

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Credit

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Zero

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Negative

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Solution

The correct option is C Debit
Expense account are classified as nominal account. As per the rule of nominal account, all expenses and losses are to be debited.
Hence all expense account show the debit balance.

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Similar questions

Q. The debit balance of a cash account shows ______________.

Show the treatment of prepaid expenses, depreciation, closing stock at the time of preparation of final accounts-

(a) When given inside the trial balance.

(b) When given outside the trial balance.

Q. Show the treatment of prepaid expenses, depreciation, closing stock at the time of preparation of final accounts
(a) When given inside the trial balance.
(b) When given outside the trial balance.

State whether the following statement are true or false.

1. Final Accounts are prepared on the basis of Trial Balance.
2. Trading Account is a part of Profit & Loss Account.
3. Profit Loss Account is prepared to find out Gross Profit or Gross Loss.
4. Gross Profit or Gross Loss is transferred to Balance Sheet.
5. An amount of net profit is added to the capital.
6. All indirect expenses are debited to trading account.
7. Balance Sheet is a statement and not an account.
8. Capital account is a personal account.
9. Amount of prepaid expenses appears on assets side.
10. Bank Overdraft is a liability of business concern.

Show the treatment of prepaid expenses, depreciation and closing stock at the time of preparation of final accounts when:

(a) When given inside the Trial Balance?

(b) When given outside the Trial Balance?

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All expenses account show ________ balance.

The correct option is C DebitExpense account are classified as nominal account. As per the rule of nominal account, all expenses and losses are to be debited. Hence all expense account show the debit balance.

The correct option is C Debit
Expense account are classified as nominal account. As per the rule of nominal account, all expenses and losses are to be debited.
Hence all expense account show the debit balance.