Out of the following Identify the wrong statement.
A. Real & Personal accounts are transferred to Balance Sheet
B. Nominal accounts are transfer to profit and loss account
C. Cash account is not opened separately in the ledger
D. Rent account is a personal account and outstand rent account is a Nominal Account
Answer:A
Out of the following Identify the wrong statement.
A. Real & Personal accounts are transferred to Balance Sheet B. Nominal accounts are transfer to profit and loss account C. Cash account is not opened separately in the ledger D. Rent account is a personal account and outstand rent account is a Nominal Account