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How many types of account example pls
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Answer Posted / ankama rao
broadly classified into two two head
1)personal accounts
basic rule:
debit the receiver
credit the giver
2)impersonal accounts
a)real accounts
basic rule:
debit what comes in
credit what goes out
ex:tangible assets such as buildings,
furniture,cash etc and also intangible assets
such as goodwill,trade marks etc.
b)nominal accounts
basic rule:
debit all expenses and losses
credit all incomes and gains
ex:salaries account,rent account,
commission account etc.
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