arvind133

 Profile Answers by arvind133 

• Jan 16th, 2008

 

Real Account:

The accounts relating to all assets and properties are called real accounts.

Personal Account:
The accounts relating to induviduals, firms, associations or companies are known as personal account.

Nominal Account:
The accounts relating to expenses, losses, incomes and gains are known as nominal accounts.

sreekanthvsk

 Profile Answers by sreekanthvsk 

• Jun 11th, 2008

 

Real Account : All Assets and Liabilities fall under Real account. e.g. Cash, Bank, Building, Loan, Creditors etc.......
Here Debit what comes in and Credit what goes out.

Personal Account : All accounts relating to Individuals, Firms, Companies etc... falls under Personal Account.
Here Debit the Receiver and Credit the Giver.

Nominal Account : All accounts relating to Incomes and Expenses.
Here Debit all Expenses and Credit all Incomes.

vasudeo007

 Profile Answers by vasudeo007 

• Aug 17th, 2008

 

The double entry book keeping system that is followed world over has classified the accounts into two categories: Personal Accounts and Non-personal Accounts.

Personal accounts are those accounts which belong to either single person or group of persons. Examples are Capital account, all debtors and creditors, employees, account holders, deposit holders  etc.

In above cases person does not always mean an individual, it can also mean some other company.

The non personal accounts are bifurcated into : Real accounts and Nominal accounts.

Real accounts means those accounts which belong to assets whether real assets or non real assets. Examples are building, cash, fixed deposits maintained by you with someone else, plant and machinery etc

Nominal accounts are most popular category as they are expense and income accounts. Profit and loss a/c, Rent a/c, all items of revenue expense a/cs, all items of revenue earning a/cs etc are nominal accounts.

In a nut shell, a/cs are bifurcated into 3 Personal, real and nominal a/cs.
Personal belong to any individual, group of people or other company or government etc.
Real means the real assets or non real assets real means tangible in this context. So the asset may be tangible or not but it can still be maintained as real a/c
Nominal means that all expense and income items.

Vasudeo

MANISHA SANDEl

• Sep 19th, 2011

 

real accounts means: Dr what comes in and Cr what goes out:;;;;;;;
In which includes all assets and liabilities for exp: bank ,cash ,loan, creditors ,building

personal accounts means: Dr. the receiver and Cr. the giver
in which includes all companies

nominal accounts means: Dr.all expenses and losses and Cr. are all income and gains

Pawan

• Jul 25th, 2012

 

Personal A/c means A A/c which related to a person.

There are two types, Neutral Person(Rams A/c, Mohans A/c etc.) And Artificial person(With related to a group of person or firm for example( Pacl India Ltd,Indian Banks, Life Insurance corporation).

Real A/c means that A/c related to Property and assets which are owned by the business. (for e.g. building land, goodwill, purchase etc.)
Nominal A/c :These A/c are no existence and shape. Income, expenses, gain and losses of business concern.for e.g.(Salary A/c Dividend A/c.)

partha

• Apr 28th, 2014

 

revenue comes under which account?

Parukrish.balaji

• Sep 3rd, 2014

 

Personal account deals with the persons, organizations
Real account deals with feel and touch
Nominal account deals with the intangible and unable to feel and see.

lakshmana

• Dec 6th, 2014

 

nominal ac

balaji

• Feb 1st, 2015

 

nominal a/c is a all assets and incomes is nominal a/c...

Shobana Shanmugam

• Apr 28th, 2015

 

Personal Account
personal Account related to individuals, firm, company etc
Real Account :
An Account which is related to assets and liabilities comes under this category
Nominal Account:
An Account which is related to income and expenses comes under this

abdulahad

• Aug 28th, 2015

 

Height 5 feet 4/5 inches

MOHAMED SUHAIL

• Nov 20th, 2015

 

Personal A/C is relates to individuals, firms and association
Real A/C relates to all assets
Nominal A/C relates to income and expenses

Shivratri kashyap

• Aug 26th, 2016

 

Real Account includes all assets and liabilities
Dr... come in / Cr...Goes out.

Personal Account are include all companies
Dr... Receiver /Cr... Giver.

Nominal Account are gain all income & losses to bear.
Dr... all expenses and losses and Cr....all income & gains.

Give me feedback

krishna

• Aug 29th, 2016

 

Bank comes under Personal account as it relates to 3rd party where as cash relates to real account.

RAMAKRISHNA PUTI

• Sep 7th, 2016

 

There are three types of accounting
1.Personal
2.Real
3.Nominal
Personal a/c: deals only persons
Real a/c: untouchble properties
Nominal a/c: expanses,loss,gain and income

RAHUL PATRO

• Sep 16th, 2016

 

Real Account : All Assets and Liabilities fall under Real account. e.g. Cash, Bank, Building, Loan, Creditors etc.......
Here Debit what comes in and Credit what goes out.

Personal Account : All accounts relating to Individuals, Firms, Companies etc... falls under Personal Account.
Here Debit the Receiver and Credit the Giver.

Nominal Account : All accounts relating to Incomes and Expenses.
Here Debit all Expenses and Credit all Incomes.


The double entry book keeping system that is followed world over has classified the accounts into two categories: Personal Accounts and Non-personal Accounts.

Personal accounts are those accounts which belong to either single person or group of persons. Examples are Capital account, all debtors and creditors, employees, account holders, deposit holders etc.

In above cases person does not always mean an individual, it can also mean some other company.

The non personal accounts are bifurcated into : Real accounts and Nominal accounts.

Real accounts means those accounts which belong to assets whether real assets or non real assets. Examples are building, cash, fixed deposits maintained by you with someone else, plant and machinery etc

Nominal accounts are most popular category as they are expense and income accounts. Profit and loss a/c, Rent a/c, all items of revenue expense a/cs, all items of revenue earning a/cs etc are nominal accounts.

In a nut shell, a/cs are bifurcated into 3 Personal, real and nominal a/cs.
Personal belong to any individual, group of people or other company or government etc.
Real means the real assets or non real assets real means tangible in this context. So the asset may be tangible or not but it can still be maintained as real a/c
Nominal means that all expense and income items.


Real Account includes all assets and liabilities
Dr... come in / Cr...Goes out.

Personal Account are include all companies
Dr... Receiver /Cr... Giver.

Nominal Account are gain all income & losses to bear.
Dr... all expenses and losses and Cr....all income & gains.

Afiss AATugbu

• Jan 25th, 2017

 

Revenue and Taxes are under which account?

Devayani

• Jul 30th, 2017

 

Classify the following accounts....personal or nominal or real..
1. Good will
2. Copy right
3. Outstanding salary.
4. Sundry debtors
5. Sundry creditors
6. Purchases return
7. Sales return
8. Bank charge

Ezbon Patrick

• Jul 16th, 2018

 

1Good will -real account
2 Copy right-real account
3 outstanding salary-real account
4 sundry debtors -personal account
5 sundry creditors-personal account
6 purchase return-Nominal account
7 sales return-Nominal account
8 Bank charge-personal account

Ahmed

• Oct 15th, 2018

 

Bank and creditors are personal account not Real account

Sonali Avinash Gawade

• Mar 13th, 2019

 

if we open bank account in sbi bank by depositing cash..... then it is personal acc or real acc ?

Arjun lal

• Mar 19th, 2019

 

bank and creditors are real accounts