What is the difference between Personal account, Real Accounts and Nominal acco

What is the difference between Personal account, Real
Accounts and Nominal account?

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What is the difference between Personal account, Real Accounts and Nominal account?..

personal a/c are those which uses the names of individuals
or place
ex; ramesh, taj mahal etc.

Real a/c are those which concentrated with assets
ex; buildings, machinery, furnitures etc..

Nominal a/c are those which concentrated with income, expenses,

ex; salaries, commission, etc...

Is This Answer Correct ?

33 Yes

4 No

What is the difference between Personal account, Real Accounts and Nominal account?..

Answer / sai

personal account: debit the receiver &credit the giver
real account: debit what comes in & credit what goes out
nominal account: debit all expancses and losses and credit all profits & gains

Is This Answer Correct ?

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1 No

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