Q22.Repair charge of office old furniture is
(1) Capital Expense
(2) Revenue Expense
(3) None of these
(4) Both Revenue & Capital Expense
Answer
Revenue Expense
Related Questions on Theory Base of Accounting
Q23.Working Capital is
(1) Current Assets + Current Liabilities
(2) Current Assets – Current Liabilities
(3) None of these
(4) Current Assets + Fixed Assets
Answer
Current Assets – Current Liabilities
Q24.Interest A/c is
(1) Real A/c
(2) Nominal A/c
(3) None of these
(4) Personal A/c
Answer
Nominal A/c