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libilities accounts come under what type of accounts(under
real, nominal or personal) if its nominal, generally
nominal will not come in balance sheet, why we shown in
balance shhet?
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Answer / prasant m
Liabilities is a Nominal accounts,your second q is why it is
comes under Balance sheet,where as my view first we should
know why we need to prepare Balance sheet?
to find exact position of business at the year ending,how
much assets value excess over liabilities or how much
liabilities excess over assets,by that we can find what is
the business value at year ending.
| Is This Answer Correct ? | 4 Yes | 1 No |
Name any 3 heads shown under assets side of balance sheet.
Expand-------ASRT
why may types of accounts
Expand---------DTRE
i was asked to journalise nominal accounts please give me the answer with examples so dat its easy for me 2 understand
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