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Practice Questions
Test your understanding with targeted questions related to the topic.
Question 1
Easy
What are Personal Accounts?
💡 Hint: Think of accounts that track who owes or is owed money.
Question 2
Easy
Give an example of a Real Account.
💡 Hint: Consider physical assets owned by a business.
Practice 4 more questions and get performance evaluation
Interactive Quizzes
Engage in quick quizzes to reinforce what you've learned and check your comprehension.
Question 1
What type of account is related to individuals like debtors?
- Real Account
- Nominal Account
- Personal Account
💡 Hint: Remember 'personal' ties to people and organizations.
Question 2
True or False: Real Accounts represent income and expense transactions.
- True
- False
💡 Hint: Think about what is owned vs. what is earned or spent.
Solve 1 more question and get performance evaluation
Challenge Problems
Push your limits with challenges.
Question 1
Given a business’s financial situation, classify each transaction as either a Personal, Real, or Nominal Account.
💡 Hint: Look at what each transaction is related to.
Question 2
Create a comprehensive report showcasing how a small business utilizes all three account types throughout one month.
💡 Hint: Use a table format to visualize transactions clearly.
Challenge and get performance evaluation