can any one tell me the Types of accounts in practise

Answer Posted / prabakar

As per the companies act, the accounting should be done in
2 ways.

1. Mercantile system of Book Keeping (Double Entry System)

2. Cash Receipt System (Recording transaction only when it
occurs)

3. Apart from these there is self balancing system wherein
a person can write as per his/her understanding.

Is This Answer Correct ?    4 Yes 2 No



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