gunesh
asked almost 3 years ago
Hi I am preparing for CA exam. I am having doubt about accounting. Can I know, What is the difference between personal account real account and nominal account?
acharya
answered over 2 years ago
1.Tangible real account - assets that can be touched and felt. eg: plant, machinery, computer, etc.., 2.intangible real account - assets that can't be touched/ no physical shape. eg: goodwill, patent, etc..,. Nominal account - **expenses, losses, incomes and gains** of the business comes under this account.
narahari
answered almost 3 years ago
1.Natural persons - Eg: ganesh a/c, priya a/c, shyam a/c. 2.Artificial persons - firm/companies/bank/cooperative society a/c. 3.representative personal a/c - outstanding expenses and accrued or prepaid incomes comes under this. real account - **assets** of the business is recorded under this account. it is divided into tangible and intangible real account.
R.Manimegalai
answered almost 3 years ago
**Personal account** - It deals with `**persons**`. It is of three types: 1.Natural persons - Eg: ganesh a/c, priya a/c, shyam a/c. 2.Artificial persons - firm/companies/bank/cooperative society a/c. 3.representative personal a/c - outstanding expenses and accrued or prepaid incomes comes under this. **real account** - `**assets**` of the business is recorded under this account. it is divided into tangible and intangible real account. 1.Tangible real account - assets that can be touched and felt. eg: plant, machinery, computer, etc.., 2.intangible real account - assets that can't be touched/ no physical shape. eg: goodwill, patent, etc..,. **Nominal account** - `**expenses, losses, incomes and gains**` of the business comes under this account.
