Asset ledger shows _________ balance.

Debit

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Credit

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Nil

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Positive

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is A Debit
Assets are real account and therefore will always show debit balance. Following entries are passed in the books of account at the time of purchasing an asset:

Fixed Assets A/c Dr.
To Bank/ Supplier A/c
Where the asset account is debited for assets bought in and are credited if asset is sold or disposed.

Suggest Corrections

Similar questions

State true or false:

1) A Trial balance is an account.
2) A Trial balance is helpful for preparation of final accounts.
3) A Trial balance is most important document.
4) A Trial balance may be prepared on any date.
5) In Trial balance opening stock is recorded in credit balance column.
6) Both sides total of an account are taken in Gross Trial Balance.
7) Purchase account always shows debit balance.
8) A Trial balance is a List of Ledger balances.
9) A Trial balance does not ensure accounting accuracy.
10) A Trial balance shows only arithmetical accuracy.

Q. A common size balance sheet shows the percentage of each asset to the ________, and that of each liability to the ______.

Q. If there is a debit balance in ledger accounts than ___________.

Accounts payable or creditors ledgers will generally have a _____ balance.

Give one word, term or phrase for the following statement:

1) A List of Debit Balances and Credit balances in the ledger.
2) A Statement prepared to provide the base for preparing the final accounts.
3) A statement is prepared without balancing the ledger account.
4) Mention the side where goodwill A/c is appeared in the Trial Balance.
5) A List of both Ledger balances which is prepared after the closing of ledger Accounts.

Join BYJU'S Learning Program