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How many types of account example pls
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Answer Posted / mohd ajmal
accounts are basically three types,
1:PERSONAL ACCOUNTS:Which are related with accounts
individuals,firms,companies,financial institution are
pesonal account.these r three types.
a:natural personal accounts.
b:artificial personal accounts.
c:representative personal accounts.
2:REAL ACCOUNTS:Real accounts related to
assets,properties.these may classified into tangible real
account intangible real account.the accounts relating to
tangible assets such as
building,plant,machinery,cash,furniture,etc.intangible real
accounts are accounts related to intangible assets such as
good will, trademark,copyright,patents etc.
3:NOMINAL ACCOUNTS:The accounts related to
income,expenses,losses,gains are classified as nominal
accounts.4 ex,wages accounts,rent account,interest
accounts,salary accounts etc.fall in category of nominal
accounts.
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