Question : Receipt and payment accounts generally shows:-

Option 1: Debit balance 

Option 2: Credit Balance 

Option 3: capital fund 

Option 4:  surplus and deficit 

Question : In the case of fixed capital, partners will have

Option 1: credit balance for their capital account

Option 2: debit balance of their capital account

Option 3: credit and debit balance in their capital account

Option 4: credit balance or Nil balance in their capital account

Question : In the case of fixed capital, partners will have

Option 1: credit balance for their capital account

Option 2: debit balance of their capital account

Option 3: credit and debit balance in their capital account

Option 4: credit balance or Nil balance in their capital account

Question : Which of the following is not a type of balance of payments surplus or deficit?

Option 1: Trade surplus or deficit

Option 2: Current account surplus or deficit

Option 3: Capital account surplus or deficit

Option 4: Service account surplus or deficit

Question : Securities Premium Reserve A/c has a ------------ and is a-----------, to be shown on the equity and liabilities side under the head -----------.

Option 1: Debit balance, capital profit, reserve and surplus

Option 2: Credited, revenue profit, reserve and surplus 

Option 3: Credited, capital profits, reserve and surplus 

Option 4: Credited, capital profit, shareholders' fund 

Question : Payment for the Imports a good is written on ________ side of __________ account.
 

Option 1: Credit, current 
 

Option 2: Credit, capital
 

Option 3: Debit, current 
 

Option 4: Debit, capital