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Theory Base of Accounting — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountTheory Base of Accounting1 Mark
Question
A liability is met by issuing a cheque. Which account will you credit and why?
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Answer

Bank Account will be credited because payment has been made by issue of cheque. As a result, balance in bank is reduced. Bank Account being an asset is credited.

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