Question : Nature of Realisation A/c is
Option 1: Real A/C
Option 2: Personal A/C
Option 3: Nominal A/C
Option 4: Not defined yet
Correct Answer: Nominal A/C
Solution : Rule of real account is debit what comes in and credit what goes out. The nature of Realisation A/c is Nominal A/C. Hence, the correct option is 3.
Question : Realisation A/c is a :
Option 1: Nominal A/c
Option 2: Real A/c
Option 3: Personal A/c
Option 4: Real A/c as well as Personal A/c
Question : The nature of Receipts and Payment Account is:
Option 1: Nominal
Option 2: Artificial Personal
Option 3: Representative Personal
Option 4: Real
Question : The nature of Income and Expenditure Account is:
Option 3: Representative personal
Question : The realization account is a
Option 1: nominal account
Option 2: real account
Option 3: personal account
Option 4: real as well as personal
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