Which of the following is a real account?
A. Salary account
B. Cash account
C. Outstanding rent account
D. Sundry creditors account
Answer: Option B
Solution(By Examveda Team)
Cash account is a real account. Real accounts show up on a company's balance sheet, which is the financial statement that lists all the accounts that a company has and their balances.This Question Belongs to Commerce >> Accounting
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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
B. Fixed assets
C. Intangible assets
D. Investments
Patents, Copyrights and Trademarks are
A. Current assets
B. Fixed assets
C. Intangible assets
D. Investments
Option B - Cash account,
Reason- As cash is an asset for the business and the real accounts are related to the assets and liabilities of the business.