what is real account and its advantages
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Answer / smehra
real accounts is related with all types of property accounts means all assets like intangible or tangible..
i think u hv heard about real account in golden rules of accounts for ur knowledge ( debit whats comes in credit what goes out) this is a golden rule of real accounts. and for its advantages:- real accounts provide all information about business property like the time of lease and what is the actual amount existing in business through cash/bank balance for the best transaction.
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Period I :- Sales= Rs 15000. Profit= Rs 400. Period II :- Sales= Rs 19000. Profit= Rs 1150. Calculate : a) P/V ratio. b) Profit when sales are Rs 12000. Cc) Sales required to earn a profit of Rs 2000. d) Margin of safety in period II. e) variable cost in period I.
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