Office equipment's account is classified as
A. Nominal accounts
B. Real account
C. Cash account
D. Capital account
Answer: Option B
Solution(By Examveda Team)
Office equipment's account is classified as Real account.Join The Discussion
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Related Questions on Accounting
Accounting provides information on
A. Cost and income for managers
B. Company's tax liability for a particular year
C. Financial conditions of an institutions
D. All of the above
The long term assets that have no physical existence but are rights that have value is known as
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as
A. Current assets
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Patents, Copyrights and Trademarks are
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B. Fixed assets
C. Intangible assets
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Why sir it's real account?