what are real,nominal,personal and impersonal accounts



what are real,nominal,personal and impersonal accounts ..

Answer / madhu poor

1.Personal Account : Debit The Receiver Credit The Giver
2.Real Account : Debit What comes in Credit What Goes
Out
3.Nominal Account : Debit all expenses and losses Credit
all gains and incomes

Examples Respectivesly:
1. Bank,Mr.Yogesh, Bajaj co.ltd, hospitals,etc.
2. Furniture, Machinary, Building, cash etc.
3. Dividend,commision , interst etc.

Is This Answer Correct ?    32 Yes 8 No

Post New Answer

More Accounting AllOther Interview Questions

What do you mean by Leverage?

5 Answers   Deloitte,


How does a company earns profits?

0 Answers   BA Continnum Solutions,


Short Answer on____________Analysing

1 Answers  


Expand ------NITES

1 Answers  


what is the main link between the income statement and the balance sheet?

0 Answers  






EXPAND___________LNG

0 Answers  


Any body please give me the model paper of capital iq and what they have given the questions and what am i preparing for written test

3 Answers   Capital IQ, Finance,


Expand I P

2 Answers  


what is meant by cash purchase?

0 Answers  


Received cheque Rs 250000 which is exclusive of 5% Security deposit 2.24% income tax and i% miscellaneous recovery. Pass necessary entry

0 Answers  


WHAT ARE THE PRINCIPALS OF ACCOUNTING

6 Answers   Fullerton,


IN PROFIT AND LOSS ACCOUNT WE MAY EITHER GET PROFIT OR LOSS.SO WHY IT IS PROFIT AND LOSS ACCOUNT INSTEAD OF PROFIT OR LOSS ACCOUNT ?

6 Answers  


Categories