The reduction in the value of the fixed assets which can arise due to time factor is:

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