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what is difference between nominal and real account
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Answer Posted / dinesh
Real a/c : Debit what come's in & credit what go's out
nominal a/c : debit all expence & all losess credit all
income & gains
In real a/c whatever things we can see,touch & feel it all
come's under real a/c. eg: bldg,machinery etc..
In nominal a/c we record only expence & losess and income &
gains for eg: interest, depreciation etc.
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