Which of the following accounts will be credited if a company purchases building for cash?
A. Capital account
B. Fixed assets account
C. Building account
D. Cash account
Answer: Option D
Solution(By Examveda Team)
Cash account will be credited if a company purchases building for cash. Cash is credited because cash is an asset account that decreased because cash was used to pay the bill.Join The Discussion
Comments ( 3 )
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I think cash account will be debted in this case.
Cash account will be debited if a company purchased building for cash...(because debit is what goes out)
Fixed account will be credit
Cash account will be debited if a company purchased building for cash...