Explain kinds of accounts

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Explain kinds of accounts..

Answer / kamal chandra tiwari

There are three types of account
1.Personal Account ( Debit the receiver & credit the Giver)
Bank,Firm,Trust,person,etc.
2.Real Account ( Debit what comes in & Credit what Goese
out)Ex. Furniture, Machinery, etc.
3.Nominal Account( Debit all losses & exp.& credit all
incomes gains.Capital, Asests, cash, bank cash etc,

Is This Answer Correct ?    19 Yes 2 No

Explain kinds of accounts..

Answer / neeraj

Real Account : Like Bank, cash account which is actual
account Physically can see.
Personal Account : Like Vendor account, these can be
created as Person name
Nominal account : Physically can't see. dabtors etc

Is This Answer Correct ?    7 Yes 1 No

Explain kinds of accounts..

Answer / satyaki_raju@yahoo.com

Learn and follow chronological order.The question is
explain kinds of accounts.If you list the names that is
enough.If you add rules of debit and credit it will be well
and good. Outstanding account is not Nominal account
Outstanding and payables belong to representative personal
accounts.
More over I am advising you to try to answer or post
question thru your e-mail. Thru this you can glance the
status of your answer.

Is This Answer Correct ?    10 Yes 5 No

Explain kinds of accounts..

Answer / kunal $rivastava

There are mainly three types of account
1. Real Account
2. Nominal Account
3. Personal Account
Ex of Real account -- Bank Account
Ex of Personal Account -- Capital Account, Drawings Account
Ex of Nominal Account -- Outstanding account, Payable accounts

Is This Answer Correct ?    15 Yes 15 No

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