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Question
what is difference between nominal and real account
 Question Submitted By :: Accounting-AllOther
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
real a/c "dr. what comes in and cr. what goes out"

nominal a/c "dr. alll the expenses and losses cr. all the
profit and gains"
 
Is This Answer Correct ?    63 Yes 4 No
Anil Gautam
 
Answer
# 2
Real accounts only deals with the assets but nominal
accounts deals with expenses and incomes.
 
Is This Answer Correct ?    37 Yes 4 No
Santau Das
 
 
 
Answer
# 3
Real a/c : Debit what come's in & credit what go's out
nominal a/c : debit all expence & all losess credit all
income & gains
In real a/c whatever things we can see,touch & feel it all
come's under real a/c. eg: bldg,machinery etc..
In nominal a/c we record only expence & losess and income &
gains for eg: interest, depreciation etc.
 
Is This Answer Correct ?    13 Yes 1 No
Dinesh
 
Answer
# 4
Accounts dealing in properties, such as Cash,Building,
Machinery etc., are known as Real Accounts.

Accounts that record expenses,losses and incomes are called
Nominal Accounts
 
Is This Answer Correct ?    13 Yes 2 No
Ashwini
 
Answer
# 5
Nominal accounts helps us to know the result of the venture
Real accounts will be placed in Balance sheet and will help
us to know the financial status of the orgonisation
 
Is This Answer Correct ?    19 Yes 9 No
Satyanarayana Raju
 
Answer
# 6
real a/c includes all assets n properties but nominal a/c
includes all expenses n losses
 
Is This Answer Correct ?    11 Yes 1 No
Aurosnigdha Bose
 
Answer
# 7
Real a/c ; Dr' what comes in and Cr' what goes out
Personal a/c ; Dr; the reciver and Cr' the giver and
Nominal a/c ; Dr' all over expense and loss and Cr' all over
incomes and granis (profit)
 
Is This Answer Correct ?    6 Yes 0 No
Komu
 
Answer
# 8
All tangibles are Real account. All intangibles are nominal
account
 
Is This Answer Correct ?    2 Yes 2 No
Mns
 
Answer
# 9
NOMINAL A/C SHOWS THE BUSINESS GAINS OR LOSS AND THIS
ACCOUNT SHOW THE FIXED COST AND SEMI VARIABLE COST
EXPENSSES.
REAL A/C SHOW THE WHERE CASH & BANK BALANCES ARE INVESTED
 
Is This Answer Correct ?    0 Yes 0 No
Vishakha
 

 
 
 
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