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What is personal nominal and

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What is personal nominal and

    • Posted by Anil Dhawan 8 years, 6 months ago

    CBSE > Class 11 > Accountancy
    • 1 answers

    Manish Gandhi 8 years, 6 months ago

    There are three types of accounts . Personal , Real and Nominal.

    1) Personal accounts :- Accounts related to a person, individual, institution , firm etc are called personal accounts. eg. ABC Ltd. , Ram a/c , Debtor's a/c.

    2) Real accounts:- Accounts related to an asset is real account. eg. Machine a/c

    3) Nominal account :- Accounts related to income and expense of the business is called nominal account. eg. rent a/c, commission a/c
     

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