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Sales A/C belongs to which account type?
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Answer / amit k. prasad
Nominal Account
All expenses/loss and Gain/profit related account comes
under nominal account.
Sale is Profit for company.
| Is This Answer Correct ? | 111 Yes | 39 No |
Answer / prasanta
Nominal account
because any profit or gain or expenses or losses will come
under nominal account.
| Is This Answer Correct ? | 39 Yes | 15 No |
Answer / tutun mukherjee
sales a/c is a nominal its a revenue earned from disposing of goods thats why we post it on the cr. side of trading a/c......its nt a real a/c bcoz sales doesnt mean possession of inventories...its means outgoing of goods from godown....real a/c only comprise of assets have u seen ever sales has been placed in balace sheet? no
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / rahul
I know sales a/c is a NOMINAL A/C....... but i am confused very very confused because when sales a/c is nominal it does not support ACCOUNTING EQUATION and if we knows that sales a/c is a Real a/c is does not support Profit and Loss a/c
| Is This Answer Correct ? | 3 Yes | 0 No |
sales is Nominal account. It relates to incomes and gains of business. If we treat it as real account it wont support Accounting equation . As per equation Capital= Assets minus Liabilities. Assets means inventories possed by the unit. Here inventories gone out thru sale. With that the value of inventories possessed by the unit will come down. So under any circumstances sales should not be considered as Real . More over as per rules Going out items are Cash and fixed assets and services only.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / arvind singh
Sales A/c is a Real Account type because Sales denote our
finished stock.So,we can say that sales is our stock.
| Is This Answer Correct ? | 20 Yes | 35 No |
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