What are accounting Principles?
Answer Posted / p. srikar
An account is a summary of record of all the transcations
releating to a Person, Asset, Expences are gain. It is 2
sides the Left hand side called Debit and Right hand side
called Credit. Accounting is a bradly classfice in to 3
types. These are..
1) Personal Account :- This accounts of Persons with whom a
concern carries on business personal account may be
a) Account of Natural persons such as Ramakrishna,
Kishore etc..
b) Account of Artifical persons are a Group of Bodies
Such a Bankers, Universal trading co. etc..
c) Represenative personal a/c. such as Salaries, Prepaid
Insurance etc..
2) Real Account :- This accounts releating to Properties
are Assets of a Trader known as Real a/c. It's include
Tangable Assets. Eg. Building, Furniture.. Intigable Assets
Good will, Petent..
3) Nominal Account:- Account dealing with Expenses, Losses
and Gains, Incomes. Eg. Salaries Rent etc
Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
What is a media trial?
How these qualifications are helpful to you in discharging the duties of Officer Grade A?
What is the difference between Nationalized bank and Private Bank?
What are the indicators of good shgs (self help groups)?
What do you understand by Lender of the last resort?
why there is a price band for IPO(initial public offer)? And at what price the investor can issue those ipos?
Dealer management in the automoblie company?explain?
What Are The Characteristics Of A Trigger?
How is future growth of commercial banks in India and any hurdles to it?
Tell us about your latest qualification?
reasons for popularity of consumer credit in india
What is the reason for sudden slump in value of rupee and bourses?
Hi this is praveen completed MBA with Finance and HR as specializations in 2007 im very much intrested in appearing for group exams? so I want to know when will be the next edition? ie how I need to apply for groups for the 1st time?
I would want to know detailed information on derivatives Could please help me
What do you mean by FDI?