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How many types of account example pls
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Answer Posted / mohammed arif
There are Three types of Account which are as follows.
1) Personal Account
2) Nominal Account
3) Real Account
Personal Account: Debit the giver and Credit the receiver.
Example: Person, Bank , Firms, Trust etc.....
Nominal Account: Debit All expenses Losses and Credit All
income gains.
Example: Salaries paid Rent Paid (Expenditure)
Commission Received, Dividend Received (Income)
Real Account: Debit what comes in Credit What goes out
Example: Assets Cash Machinery Lease hold Goodwill
investments etc........
| Is This Answer Correct ? | 8 Yes | 17 No |
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