What is the types of accounts & it's rules ?
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Answer / guest
There are three types of accounts
1. Personal Account
Debit the Receiver
Credit the Giver
2. Real Account
Debit what comes in
Credit what goes out
3. Nominal Account
Debit the Expeses/Losses
Credit the incomes/gains
| Is This Answer Correct ? | 521 Yes | 32 No |
Type of accounts are classified into three categories :
Personal accounts : The personal accounts are again
classified into Personal and impersonal accounts
Personal accounts : In which the transactions
directly indicate the natural persons. Eg. Ram, sharma
Impersonal accounts : In which the transactions
indirectly indicate the artifical persons created by the
law. ICICI BANk
Debit the receiver
Credit the giver
Real accounts : For general operating of the firm, it
requires some assets like fixed assets and current assets.
These types of assets are classified under this head. Eg.
furniture, fixtures,inventory
What comes in Debit
What goes out is Credit
Nominal accounts : The expenes incurred for the operating
of the firm, will be classified under this head. Eg. Wages,
Salaries(denpending on the transactions)
All expenses and losses debit
All incomes and gains credit
| Is This Answer Correct ? | 312 Yes | 29 No |
Answer / satendra singh sikarwar
Types Of Accounts :
1. Personal Accounts : Accounts of Persons,institutions
Like Employees ,Banks,Other Companies
" Debit the Receiver
Credit the Giver "
2. Real Accounts: All Assets are real accounts.
Like Furniture , Inventory
" Debit What comes in
Credit What goes out "
3. Nominal Accounts : All expenses,Losses, Income , Gains
" Debit all Expenses and losses
Credit all Income and gains"
| Is This Answer Correct ? | 163 Yes | 21 No |
Answer / anusha s t
personal account:debit the receiver and credit the giver.
real account: debit what comes in and credit what goes out.
nominal account: debit the expenses and credit the incomes.
| Is This Answer Correct ? | 92 Yes | 11 No |
Answer / naveen kumar
There are three types of accounts
1. Personal Account
Debit the Receiver
Credit the Giver
2. Real Account
Debit what comes in
Credit what goes out
3. Nominal Account
Debit the Expeses/Losses
Credit the incomes/gains
| Is This Answer Correct ? | 84 Yes | 7 No |
Answer / arifat bhat
there are three types of accounts.
1. PERSONAL ACCOUNT:- the element or accounts which
represent persons and organisation. e.g mohammad, Ahmad &
co.
Debit the Receiver
Credit the Giver
2. REAL ACCOUNT:- the element or accounts which represent
assests. e.g furniture,attached things etc.
Debit what comes in
Credit what goes out
3. NOMINAL ACCOUNT:- the element or accounts which
represent incomes,expenses , losses,gains.
Debit the Expeses/Losses
Credit the incomes/gains
| Is This Answer Correct ? | 64 Yes | 6 No |
Answer / mukesh
There are three types of the account:
1.)Personal a/c:
peronal account has also another three parts
a) natural personal a/c:-
particular person name e.g.mukes a/c
b) Artificial a/c:-
e.g. himalayan trede a/c
c)Representive a/c:-
it will represents the outstanding salary
RULES:
Debit is reciever
credit is giver
2.)Real a/c:
this is used for cash and assets account
RULES:
Debit what comes in
Credit what out in
3.)Nomial a/c:
this is releated to all the expenses and
expenditure
RULES:
Debit all expenses & losses
Credit all incomes & profit
| Is This Answer Correct ? | 43 Yes | 3 No |
Answer / geeta chaturvedi
personal account
debit is the reciver
credit is the giver
Real account
debit what comes in
credit what goes out
Nominal account
all expenses / losses id debit
all incomes / gain credit
| Is This Answer Correct ? | 42 Yes | 4 No |
Answer / manjunath.s.hiremath
Answer
# 2
Type of accounts are classified into three categories :
Personal accounts : The personal accounts are again
classified into Personal and impersonal accounts
Personal accounts : In which the transactions
directly indicate the natural persons. Eg. Ram, sharma
Impersonal accounts : In which the transactions
indirectly indicate the artifical persons created by the
law. ICICI BANk
Debit the receiver
Credit the giver
Real accounts : For general operating of the firm, it
requires some assets like fixed assets and current assets.
These types of assets are classified under this head. Eg.
furniture, fixtures,inventory
What comes in Debit
What goes out is Credit
Nominal accounts : The expenes incurred for the operating
of the firm, will be classified under this head. Eg. Wages,
Salaries(denpending on the transactions)
All expenses and losses debit
All incomes and gains credit
| Is This Answer Correct ? | 40 Yes | 2 No |
Answer / raaz
Personal a/c: debit reciever, credit giver
real a/c: debit wat comer in, credit wat goes out
nominal a/c: debit all expences, losses credit all incomes and gains
| Is This Answer Correct ? | 23 Yes | 9 No |
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