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What is the Difference between Real Accont and Nominal
Account?
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Answer Posted / saurabh awhate
Real Account is the account of things & assets and N qpminal account is the account of expenses income & losses
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outstanding expenses are the expenses that "unpaid"at the end of the accounting period e.g.salaries rent so they all come to under nominal accounts which is debt all expenses and losses and credit all gains since they are unpaid hence they must be credited
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