📘 TYPES OF ACCOUNTS – 100 MCQs
🔹 MCQs (1–100)
Q1. Personal accounts relate to:
A. Assets
B. Persons
C. Expenses
D. Income
Q2. (T/F) Ram’s account is a personal account.
Q3. Real accounts relate to:
A. Persons
B. Assets
C. Expenses
D. Income
Q4. (Fill) Nominal accounts relate to ______ and ______.
Q5. Furniture account is:
A. Personal
B. Real
C. Nominal
D. None
Q6. Salary account is:
A. Personal
B. Real
C. Nominal
D. None
Q7. (T/F) Cash account is a real account.
Q8. Debtor account is:
A. Personal
B. Real
C. Nominal
D. None
Q9. (Fill) Credit all ______ in personal account.
Q10. Goodwill is:
A. Personal
B. Real
C. Nominal
D. None
Q11. Bank account is:
A. Personal
B. Real
C. Nominal
D. None
Q12. (T/F) Bank account is a personal account.
Q13. Rent account is:
A. Personal
B. Real
C. Nominal
D. None
Q14. (Fill) Debit all ______ and losses.
Q15. Capital account is:
A. Personal
B. Real
C. Nominal
D. None
Q16. Drawings account is:
A. Personal
B. Real
C. Nominal
D. None
Q17. (T/F) Sales account is nominal.
Q18. Machinery account is:
A. Personal
B. Real
C. Nominal
D. None
Q19. (Fill) Debit what ______ in (Real account).
Q20. Outstanding salary is:
A. Personal
B. Real
C. Nominal
D. None
Q21. Creditors account is:
A. Personal
B. Real
C. Nominal
D. None
Q22. (T/F) Liability accounts are personal accounts.
Q23. Prepaid insurance is:
A. Personal
B. Real
C. Nominal
D. None
Q24. (Fill) Credit all ______ and gains.
Q25. Purchase account is:
A. Personal
B. Real
C. Nominal
D. None
Q26. Commission received is:
A. Personal
B. Real
C. Nominal
D. None
Q27. (T/F) Income accounts are nominal.
Q28. Loan account is:
A. Personal
B. Real
C. Nominal
D. None
Q29. (Fill) Debit the ______ (Personal account rule).
Q30. Building account is:
A. Personal
B. Real
C. Nominal
D. None
Q31. Discount allowed is:
A. Personal
B. Real
C. Nominal
D. None
Q32. (T/F) Expense accounts are nominal accounts.
Q33. Stock account is:
A. Personal
B. Real
C. Nominal
D. None
Q34. (Fill) Real accounts include ______ and ______.
Q35. Insurance premium paid is:
A. Personal
B. Real
C. Nominal
D. None
Q36. Debenture account is:
A. Personal
B. Real
C. Nominal
D. None
Q37. (T/F) Debenture is a personal account.
Q38. Wages account is:
A. Personal
B. Real
C. Nominal
D. None
Q39. (Fill) Nominal accounts are closed to ______.
Q40. Land account is:
A. Personal
B. Real
C. Nominal
D. None
Q41. Outstanding rent is:
A. Personal
B. Real
C. Nominal
D. None
Q42. (T/F) Outstanding expense is liability.
Q43. Bills receivable is:
A. Personal
B. Real
C. Nominal
D. None
Q44. (Fill) Personal accounts relate to ______.
Q45. Bills payable is:
A. Personal
B. Real
C. Nominal
D. None
Q46. Interest received is:
A. Personal
B. Real
C. Nominal
D. None
Q47. (T/F) Interest paid is nominal account.
Q48. Provision for bad debts is:
A. Personal
B. Real
C. Nominal
D. None
Q49. (Fill) Debit all ______ (Nominal rule).
Q50. Cash discount is:
A. Personal
B. Real
C. Nominal
D. None
Q51. Partner’s capital account is:
A. Personal
B. Real
C. Nominal
D. None
Q52. (T/F) Capital account is personal account.
Q53. Accrued income is:
A. Personal
B. Real
C. Nominal
D. None
Q54. (Fill) Credit the ______ (Personal rule).
Q55. Advertisement expense is:
A. Personal
B. Real
C. Nominal
D. None
Q56. Furniture sold is recorded in:
A. Personal
B. Real
C. Nominal
D. None
Q57. (T/F) Real accounts include tangible assets.
Q58. Goodwill account is:
A. Personal
B. Real
C. Nominal
D. None
Q59. (Fill) Assets are ______ accounts.
Q60. Depreciation is:
A. Personal
B. Real
C. Nominal
D. None
Q61. Outstanding income is:
A. Personal
B. Real
C. Nominal
D. None
Q62. (T/F) Income accounts are closed to capital.
Q63. Loan given is:
A. Personal
B. Real
C. Nominal
D. None
Q64. (Fill) Liabilities are ______ accounts.
Q65. Drawings reduce:
A. Asset
B. Capital
C. Liability
D. Income
Q66. Prepaid expense is:
A. Personal
B. Real
C. Nominal
D. None
Q67. (T/F) Prepaid expense is asset.
Q68. Bank overdraft is:
A. Personal
B. Real
C. Nominal
D. None
Q69. (Fill) Nominal accounts show ______.
Q70. Sales account is:
A. Personal
B. Real
C. Nominal
D. None
Q71. Purchase return is:
A. Personal
B. Real
C. Nominal
D. None
Q72. (T/F) Purchase return reduces expense.
Q73. Capital loss is:
A. Personal
B. Real
C. Nominal
D. None
Q74. (Fill) Real accounts include ______ assets.
Q75. Commission due is:
A. Personal
B. Real
C. Nominal
D. None
Q76. Salary outstanding is:
A. Personal
B. Real
C. Nominal
D. None
Q77. (T/F) Outstanding expenses are liabilities.
Q78. Interest accrued is:
A. Personal
B. Real
C. Nominal
D. None
Q79. (Fill) Debit what ______ out (Real rule).
Q80. Cash withdrawn is:
A. Personal
B. Real
C. Nominal
D. None
Q81. Credit sale creates:
A. Asset
B. Liability
C. Expense
D. Income
Q82. (T/F) Debtors are personal accounts.
Q83. Purchase of machinery is:
A. Personal
B. Real
C. Nominal
D. None
Q84. (Fill) Credit all ______ (Nominal rule).
Q85. Income tax paid is:
A. Personal
B. Real
C. Nominal
D. None
Q86. Advance received is:
A. Personal
B. Real
C. Nominal
D. None
Q87. (T/F) Advance received is liability.
Q88. Drawings account belongs to:
A. Owner
B. Business
C. Both
D. None
Q89. (Fill) Personal accounts include ______ persons.
Q90. Capital account balance is:
A. Debit
B. Credit
C. Zero
D. None
Q91. Expenses reduce:
A. Asset
B. Capital
C. Liability
D. Income
Q92. (T/F) Nominal accounts show profit/loss.
Q93. Which is not personal account?
A. Ram
B. Bank
C. Salary
D. Creditor
Q94. (Fill) Real accounts are ______ in nature.
Q95. Income increases:
A. Asset
B. Capital
C. Liability
D. Expense
Q96. Which is intangible real account?
A. Cash
B. Goodwill
C. Salary
D. Rent
Q97. (T/F) Goodwill is real account.
Q98. Closing stock is:
A. Personal
B. Real
C. Nominal
D. None
Q99. (Fill) Debit = ______ side.
Q100. Which is correct?
A. Asset = Real
B. Expense = Personal
C. Income = Real
D. Liability = Nominal
📘 ANSWER KEY (1–100)
1-B, 2-T, 3-B, 4-Expenses & incomes, 5-B
6-C, 7-T, 8-A, 9-Giver, 10-B
11-A, 12-T, 13-C, 14-Expenses, 15-A
16-A, 17-T, 18-B, 19-Comes, 20-A
21-A, 22-T, 23-B, 24-Incomes, 25-C
26-C, 27-T, 28-A, 29-Receiver, 30-B
31-C, 32-T, 33-B, 34-Tangible & intangible, 35-C
36-A, 37-T, 38-C, 39-Capital, 40-B
41-A, 42-T, 43-B, 44-Persons, 45-A
46-C, 47-T, 48-A, 49-Expenses, 50-C
51-A, 52-T, 53-A, 54-Giver, 55-C
56-B, 57-T, 58-B, 59-Real, 60-C
61-A, 62-T, 63-A, 64-Personal, 65-B
66-B, 67-T, 68-A, 69-Profit/Loss, 70-C
71-C, 72-T, 73-C, 74-Tangible, 75-A
76-A, 77-T, 78-A, 79-Goes, 80-A
81-A, 82-T, 83-B, 84-Incomes, 85-C
86-A, 87-T, 88-A, 89-Natural & artificial, 90-B
91-B, 92-T, 93-C, 94-Permanent, 95-B
96-B, 97-T, 98-B, 99-Left, 100-A
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