RULES OF ENTRY IN PERSONAL REAL AND NOMINAL ACCOUNT
RULES OF ENTRY IN PERSONAL, REAL, AND NOMINAL ACCOUNT Aspect Personal Account Real Account Nominal Account Nature of Account Represents individuals, firms, or entities. Represents tangible assets, properties, or things. Represents income, expenses, gains, or losses. Examples Customer account, Supplier account, Capital account. Land account, Machinery account, Inventory account. Rent expense account, Salary expense account, […]
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