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Sales A/C belongs to which account type?
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Answer Posted / mudunuri
sales is Nominal account. It relates to incomes and gains of business. If we treat it as real account it wont support Accounting equation . As per equation Capital= Assets minus Liabilities. Assets means inventories possed by the unit. Here inventories gone out thru sale. With that the value of inventories possessed by the unit will come down. So under any circumstances sales should not be considered as Real . More over as per rules Going out items are Cash and fixed assets and services only.
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