Which of the following would not be a correct form for an adjusting entry?

Question

Question

business accounting

Answer 1

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Answer #1

ANSWER:

As we know there are three types of account real account personal account and nominal account

Real account :- debit what comes in and credit what goes out

Examples:cash,fixed assets

Personal account :- debit who receives and credit who gives

Examples:banks,capital

Nominal account :- debit all expenses & losses and credit incomes & gain

Examples:interest expenses,wages expenses

As we know assets are real account in nature and liabilities are personal account in nature

Answer 2

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