Lesson No. 4 – Financial Accounting Course 2019 – Debit and Credit Welcome to your Lesson No. 4 - Financial Accounting Course 2019 - Debit and Credit Name eMail Mobile What should be credited, if rent paid in cash? Landlord’s account Rent account Cash account Accounts receivable account Which of the following account would be credited when the owner of business sold machinery of Rs. 10,000 for cash? Goods account Machinery account Owner account Cash account A purchase of furniture for cash should be debited to: Cash account Furniture account Purchases account Fixture account Which concept of an accounting describes that for every debit there is a credit? Double entry system Cash accounting system Single entry system Dual aspect concept Which of the following system of recording transactions is based on dual aspect concept of accounting? Double entry system Cash accounting system Single entry system Dual aspect concept Leave a Reply Cancel reply Save my name, email, and website in this browser for the next time I comment.