Explain Personal Accounts. List different accounts consisting personal account.

Explain Personal Accounts. List different accounts consisting personal account.


Personal Accounts are the accounts of persons or organisations with whom the organisation deals in various capacities. Personal Accounts consist of following types of accounts:

-Accounts of Customers
-Accounts of Suppliers
-Accounts of Bank/Financial Institutions
-Capital Account
Explain Real Accounts. List different accounts consisting real accounts in practical circumstances.
Real accounts are the accounts of assets which the company owns and accounts of liabilities....
What are Nominal Accounts? List accounts consisting the Nominal Account.
Nominal Accounts are the accounts of Incomes, Expenses, Losses and Gains. Nominal Accounts consist of the following types of accounts....
What is the principal of Double Entry system of accounting?
The principal of Double Entry system of Accounting is “Every debit has a corresponding credit” hence the total of all debits has to be equal to the total of all credits.....Advantages of Double Entry system of Accounting...
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Discussion Board
management accounting
am actually understand the comparison today am very happy indeed
John Akook Adup 12-14-2019
commerce
thanks
dinesh 12-12-2018
Personal account
The accounts relating to individuals, firms, associations or companies are known as personal account.
Personal account 10-5-2015

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