A business has following items in it Land?
Vehicles Rs. 6,00,000
Debtors Rs. 1,20,000
Cash Rs. 30,000
Owner's Equity Rs. 10,00,000
Loan Rs. 5,00,000
Creditors Rs. 50,000
What is the value of the land?

The nature of financial accounting is:

A. Historical

B. Forward looking

C. Analytical

D. Social

Interest on drawings is:

A. Expenditure for the business

B. Cost for the business

C. Gain for the business

D. None of the above

Which of these items would be accounted for as an expense?

A. Repayment of bank loan

B. Dividend to stock holders

C. The purchase of land

D. Payment of current period rent

Debit the receiver credit the giver rule for:

A. Real a/c

B. Personal a/c

C. Nominal a/c

D. None of these