Can you please explain the difference between nominal, real and personal accounts?
Submitted by: AdministratorAccounts of assets is called Real Accounts.
Accounts of persons or institutions is called Personal Account.
Accounts of expenses/losses, incomes/gains is called Nominal Account.
Submitted by: Administrator
Accounts of persons or institutions is called Personal Account.
Accounts of expenses/losses, incomes/gains is called Nominal Account.
Submitted by: Administrator
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