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?
0
0
Answer Now
Comment
Report
3
Answers
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.
Important Note โ Preparing for CA Final?
CAKART provides Indias top faculty each subject video classes and lectures โ online & in Pen Drive/ DVD โ at very cost effective rates. Get video classes from CAKART.in. Quality is much better than local tuition, so results are much better.
Watch Sample Video Now by clicking on the link(s) below โ
For any questions Request A Call Back
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.
**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.