what is the different between nominal account and real
account ? and then personal account ?
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nominal a/c is show the all expense,losses & gail,profit
nominal A/c rule=all exp. debit
all income & gain credit.
Real a/c is show all assets,current & fixed assets.
reasl a/c rule= Debit Whats come in
Credit whats Goes out.
Personal A/c is show,person name ,bank ,firm,company name.
personal A/c rule = Debit is the receiver,
Credit is giver,
| Is This Answer Correct ? | 14 Yes | 1 No |
Answer / e. sivakumar
Personal A/C : - Debit the Receiver - Credit the Giver
Ex: Individual Person, Bank Etc..
Real A/C ; - Debit What comes in - Credit What goes out
What ever Assets purchased & Sales
Nominal A/C : - Debit all Expenses - Credit all Incomes
Which use to P&L
| Is This Answer Correct ? | 9 Yes | 2 No |
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