what is difference between nominal and real account ?
- 3 Answers
- 4305 Views
- I also Faced
- E-Mail Answers
Answer Posted / dipin k j
Nominal account deals with all expenses and incomes but real account deals with both assets and liabilities.
Rule for nominal account:
Debit all expenses and losses and Credit all incomes and gains
Rule for real account:
Debit what comes in and credit what goes out
| Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
plz tell me short cut method in maths for clerck post in bank
what is Functional Specification in SAP FICO?
how Mis reports are used?n why it is used ? explain
what is the step in preparing the schedule of audit? can someone explain for me?
Dear Sir/Madam, Executive Trainee...Finance I had been called for NTPC Group discussion and GD please guide me for getting success in GD and interview...
What are the legal entities that constitute your business? Does a legal entity have a seperate Federal Tax Id? In which country does a legal entity operate? In which currency does a legal entity operate? When does each legal entity's fiscal year begin?
Nature of training account with reason
why do you want to work here?
What is the Technology used to carry out trades?
Exapnd--------RAN
How Can Pass Credit Limit Entry If We Take Limit Of BANK I Maintain Of Account In Tally.ERP9 Than We Create Bank Ledger of Which Under
what is meant by transposition error
duties of bank finance manager
Dear sir,i have completed M.sc,MBA.STILL I AM NOT GETTING WELL POSITION .I THINK ON LOW BUGET ON COURSE TO IMPROVE MY POSITION IN FINANCE FIELD.
Process of the settlement cycle?
