Which one of the following statements is correct?

CS CSEET · Business Economics & Fundamentals of Accounting and Auditing · PYQS · June 2013
Which one of the following statements is correct?
(A) Capital of the firm is reduced by borrowing
(B) When there is no change in proprietor's capital, it is an indication of loss in business
(C) Nominal accounts refer to false transactions
(D) Real accounts relate to the assets of a business.

Answer & Explanation:

Correct Answer: Option (D)

Correct answer: (D) Real accounts relate to the assets of a business..

Topics: Fundamentals of Accounting

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