deepa

• Jun 20th, 2007

 

Accounts 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.

megha survase

• Sep 7th, 2007

 

Nominal a/c is related with expense/losses & income/gain where real a/c is with asset (cash,building,goodwill etc)/accounts of properties/ possessions of the buisnessman. And personal a/c's are account of individuals, firms, ltd companies, local authorities, associations with whom the buisnessman deals.