Principles of Accounting

Real accounts

Nominal account

Personal accounts

Capital account

Practicability

Subjectivity

Convenience in recording

Daily life

Return outwards

Return inwards

None of the above

Sales return

Debit or credit side of the same account

Two accounts

The same side of the same account

None of these

All future profits and all future losses

All future profits but leaves all future losses

All future losses but leave all future profits

None of these

A trial balance

Ledger

An account

Journal

Credit transaction

Cash transaction

None of the above

Introduction

Debit side

Credit side

Both side

None of these

Last year

Current year

Next year

None of these

Real accounts

Personal account

Nominal account

Expenses account