Classification of Accounts

1. Receipt and Payment Account is:
   (a) Real Account
   (b) Nominal Account
   (c) Personal Account
   (d) Capital Account
2. Bank Fixed Deposit Account is:
   (a) Real Account
   (b) Nominal Account
   (c) Personal Account
   (d) Capital Account
3. Profit & Loss Account is:
   (a) Real Account
   (b) Nominal Account
   (c) Personal Account
   (d) Capital Account
4. Revaluation Account is:
   (a) Real Account
   (b) Nominal Account
   (c) Personal Account
   (d) Capital Account
5. Patents Account is:
   (a) Real Account
   (b) Nominal Account
   (c) Personal Account
   (d) Capital Account
6. Which types of accounts will appear in Profit and Loss Account:
   (a) Real Account
   (b) Nominal Account
   (c) Personal Account
   (d) Capital Account
7. Which types of accounts will appear in Balance Sheet:
   (i) Real Account
   (ii) Nominal Account
   (iii) Personal Account
   (iv) Capital Account
   (a) (i), (ii), (iii), (iv)
   (b) (ii), (iii), (iv)
   (c) (ii) & (iii)
   (d) (iii) & (iv)
8. In Which order does the journal list transactions?
   (a) Alphabetical
   (b) Decreasing
   (c) Increasing
   (d) Chronological