Multiple choice

Balance Sheet is prepared from

  1. both- nominal and personal accounts

  2. both- real and personal accounts

  3. both- real and nominal accounts

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Balance Sheet is prepared from real and personal accounts. Real account is concerned with assets like furniture, machinery etc and in the Balance Sheet we show the assets. It is also prepared from personal accounts. In the liabilities side, we show the creditors which is the name of persons. In the assets side, we show the debtors which is also the name of persons ( personal accounts ). So, this option is correct. 

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