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Categories >> Accounting >> Accounting AllOther
 
 


 

 
 Audit interview questions  Audit Interview Questions (422)
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 Accounting General interview questions  Accounting General Interview Questions (2781)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4351)
Question
What is the Difference between Real Accont and Nominal 
Account?
 Question Submitted By :: Prasad
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is the Difference between Real Accont and Nominal Account?
Answer
# 1
Real account which represents assets & Investments &
Nominal account which represents Expenses,Losses,Income &
Gains

Real Account: s Debit - what comes in and
Credit - what goes out
Nominal Account: Debit all Expenses & Losses
Credit all incomes & Gains
 
Is This Answer Correct ?    200 Yes 13 No
Nnvamshi
 
  Re: What is the Difference between Real Accont and Nominal Account?
Answer
# 2
REAL ACCOUNT,

DEBIT - WHAT COMES IN
CREDIT - WHAT GOES OUT,

NOMINAL ACCOUNT,

DEBIT - EXPENCES & LOSSES
CREDIT - INCOMES & GAINS
 
Is This Answer Correct ?    126 Yes 17 No
Rupa
 
 
 
  Re: What is the Difference between Real Accont and Nominal Account?
Answer
# 3
Real account is the account of all assets . For example
Machine A/c, Land A/c etc.
Rule for it........
What comes in Dr.
What goes out Cr.
Nominal account is the account of all expenses and losses.
For example- Salary expenses, Rent Expenses, etc
Rule for it............
All expenses and losses Dr.
All profit and gains Cr.
 
Is This Answer Correct ?    75 Yes 10 No
Rajesh Kumar Soni
 
  Re: What is the Difference between Real Accont and Nominal Account?
Answer
# 4
REAL ACCOUNT NOMINAL ACCOUNT
it is related with it is related with
trangible things,assets intrangible things or
Not with debt. Expenses,Losses,Gains,etc.
ex:cash in hand,cash at Ex:salary,wages,rent,intere
bank, land,building, -st paid etc.
investment etc.

**BOTH are the part of IMPERSONAL
ACCOUNTS
 
Is This Answer Correct ?    60 Yes 5 No
Gokul
 
  Re: What is the Difference between Real Accont and Nominal Account?
Answer
# 5
The min difference between real account and nominal account
are real account records only assets, where as nominal
account
records only income and losses.
 
Is This Answer Correct ?    42 Yes 11 No
Rajesh
 
  Re: What is the Difference between Real Accont and Nominal Account?
Answer
# 6
real account is real which we can see it cash .machine and
land its a real thing so it is a real account dabit wt
comes in and goes out

Nominal account - in this account all included expenses and
loses rent, paid salery paid. this account relating all
enry is shown profit and loss account ,
 
Is This Answer Correct ?    35 Yes 7 No
Gajendra
 
  Re: What is the Difference between Real Accont and Nominal Account?
Answer
# 7
We Can touch the real account .Ex:Cash
But we can not touch the Nominal Ac.
Ex:Incomes,Salary,Gains,Rent
 
Is This Answer Correct ?    29 Yes 18 No
Manju
 
  Re: What is the Difference between Real Accont and Nominal Account?
Answer
# 8
in Personal account

Dr. the rteceiver
Cr. the giver
 
Is This Answer Correct ?    32 Yes 7 No
Sanjay
 
  Re: What is the Difference between Real Accont and Nominal Account?
Answer
# 9
Real Account: It mainly includes two things tangible and
intangible assests.tangible assest are those which can be
touch or seen e.g.building,machinery etc.and intangible
assest are those that cannot be touch or seen
e.g.goodwill,patents ,trademarks etc.The rule of real
account is Debit what comes in Credit what goes out.
Nominal account- In this account we include all expenses and
losses e.g. Bad debts,salary,rent etc
The rule of nominal account ig Debit all expenses and losses
Credit all incomes and gains
If we add the word prefix and suffix to the nominal account
than that becomes a personal account e.g outstanding
salary,prepaid salary,prepaid rent etc and this is called
as a personal account.
 
Is This Answer Correct ?    38 Yes 2 No
Rajni Bansal
 
  Re: What is the Difference between Real Accont and Nominal Account?
Answer
# 10
The main difference between real account and nominal account

That
real account records only assets, &
nominal account records only income and losses
 
Is This Answer Correct ?    13 Yes 3 No
Jai Kumar Chelani
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
How many ypes of Invoices are there ?   2
why we prepare the brs   4
what all are the items that comes under the personal account? MAHINDRA 4
what is minority interest Capital-IQ 3
what is the diffrent between income statement and balancesheet Cap-Gemini 5
On which part we should give more attention while preparing balence-sheet. Taikisha 5
WHAT IS 'ABSORPTION AND CONSOLIDATION'? BA-Continnum-Solutions 1
what is cost of goods sold?   11
difference between company and industry?   6
BY WHOME THE BANK RECONSILIATION STATEMENT IS PREPARED Capital-IQ 44
what is business transaction   4
expand-------RDS   1
 
For more Accounting AllOther Interview Questions Click Here 
 
 
 
 
 


   
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