What is the Difference between Real Accont and Nominal
Account?
Answers were Sorted based on User's Feedback
Answer / saurabh awhate
Real Account is the account of things & assets and N qpminal account is the account of expenses income & losses
Is This Answer Correct ? | 3 Yes | 0 No |
Answer / abhijeet kumar
real a/c which can see and touch and fill that is the real
account and dr. comes and cr. is goes out.
nominal a/c which can not touch and see that cauld nominal
a/c and dr. goes cr. is comes
Is This Answer Correct ? | 4 Yes | 2 No |
Answer / dasapp s
Real account which represents the purchases and sales
(Inclueds fixed assets and daily transactions)
Real Account:- Debit what comes in and Credit what goes out.
Naminal accounts represents the expenses and incomes (Both
Direct and indirect expeses)
Naminal Account:-Debit all expenses and losses Credit all
incomes and gains.
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / vinod
Real accounts have balance c/f and b/f,however nominal
accounts are closed at the end of an year i.e through income
statement.two types of nominal accounts are expenses and
income and real accounts are assets,liabilities and capital
Is This Answer Correct ? | 3 Yes | 2 No |
Answer / saravanan s
Real account
Example: If u are permanent in ur organsiation. That is a
real account.
Nominal account:
Example: If u Temporary in ur organistion. that is nominal
account.
Why?
Because nominal account will be closed at the year end.
but real account exist till the asset exist.
Is This Answer Correct ? | 2 Yes | 1 No |
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