Examveda
Examveda

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.

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Comments ( 2 )

  1. Field Academy
    Field Academy :
    8 months ago

    Cash account will be debited if a company purchased building for cash...(because debit is what goes out)
    Fixed account will be credit

  2. Ashish Gusain
    Ashish Gusain :
    2 years ago

    Cash account will be debited if a company purchased building for cash...

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