Answer Posted / 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"

Expand-------ANC

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