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

Balance sheet

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Trial balance

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Income statement

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None of above

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Solution

The correct option is B Trial balance
Trial balance is prepared with the help of taking all the ledger account balance in the list form. It has two columns, debit and credit. Both the sides of trial balance must be equal as accounting is based on dual aspect.
Trial balance carried all accounts i.e. personal, real and nominal account.

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Similar questions

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

Q. Which of the following statement generally contains personal & real but does not contain nominal accounts?

Q. Match List-I with List-II and select the correct answer using the codes given the lists:

List-I(Types of accounts)	List-II(Principles)
I. Real Accounts	(a) Debit the receiver credit the giver
II. Nominal Accounts	(b) Debit what comes in credit what goes out
III. Personal Accounts	(c) Debit all expenses,losses credit all incomes,gains

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. 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,

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