Interested to Buy Any Domain ? << Click Here >> for more details...
What is the Difference between Real Accont and Nominal
Account?
- 16 Answers
- 63957 Views
- GE, KPMG, I also Faced
- E-Mail Answers
Answer Posted / rajni bansal
Real Account: It mainly includes two things tangible and
intangible assests.tangible assest are those which can be
touch or seen e.g.building,machinery etc.and intangible
assest are those that cannot be touch or seen
e.g.goodwill,patents ,trademarks etc.The rule of real
account is Debit what comes in Credit what goes out.
Nominal account- In this account we include all expenses and
losses e.g. Bad debts,salary,rent etc
The rule of nominal account ig Debit all expenses and losses
Credit all incomes and gains
If we add the word prefix and suffix to the nominal account
than that becomes a personal account e.g outstanding
salary,prepaid salary,prepaid rent etc and this is called
as a personal account.
| Is This Answer Correct ? | 41 Yes | 3 No |
Post New Answer View All Answers
what happens to each of the three primary financial statements when capital expenditures decrease?
Data flow of Accounts payable to General ledger?
How do the standards assist the users of financial report?
give the details of overheads which are not included in costing
Which Exchange determine Foreign ?
What are the names of the codes which are needed for RTGS ? Payment and wire transfer respectively ?
I have scooter , and its insurance expired for the past 1 yrs and i need to renew it ? how to , explain?
What is Summarising
plz send me a solved paper on SBI of clerk post
How is the expenditure of developing a modified product treated?
What is the difference between Risk, Threat & Hazard?
What is the difference between horizontal balence sheet & vertical balence sheet explain in detail.
what is forecast
what do you meant auction? what is F & o segment?
what is futures and options?
