What is the difference between Personal account, Real
Accounts and Nominal account?
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personal a/c are those which uses the names of individuals
or place
ex; ramesh, taj mahal etc.
Real a/c are those which concentrated with assets
ex; buildings, machinery, furnitures etc..
Nominal a/c are those which concentrated with income, expenses,
ex; salaries, commission, etc...
| Is This Answer Correct ? | 33 Yes | 4 No |
Answer / sai
personal account: debit the receiver &credit the giver
real account: debit what comes in & credit what goes out
nominal account: debit all expancses and losses and credit all profits & gains
| Is This Answer Correct ? | 2 Yes | 1 No |
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