Principles of Accounting

Assets and liabilities

Expenses, losses and incomes

Customers, creditors etc.

Capital account

Capital

Cash

Drawings

Purchases

Capital a/c

Proprietor a/c

Creditors a/c

Debtors a/c

Personal account

Real account

Nominal account

Expense account

Classifying

Recording

Interpretation

None of these

Trading account does not balance

Profit and loss account does not balance

Trial balance does not balance

None of these

Book keeping

Accounting cycle

None of the above

Manufacturing cycle

Understatement of assets

Understatement of liabilities

Overstatement of assets

None of these

Same in nature

Different

Opposite

None of these

Practicability

Subjectivity

convenience in recording

None of these