Q51
Which of the following accounts can be classified as a real account?
A.
Rent expenses account
B.
Rent income account
C.
Insurance expenses account
D.
Cash account
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
Cash account can be classified as a real account. A real account is an account that retains and rolls forward its ending balance from period to period. The areas in the balance sheet in which real accounts are found are assets, liabilities, and equity.