What is the difference between personal account real account and nominal account ?

Answer

Personal A/c - It stands for a particular person (Ledger:- if we pay the money to someone then we will be credited and that person will be debited to whom money is being paid )

Real A/c - It stands for Fixed assets which is intangible.

Nominal A/c:- It stands for expenses/Losses and income/Gain.

* Personal A/c (question) 1. Cash deposit in SBI bank Rs 500 2. Cash deposit in PNB bank Rs 500 3. Computer purchase Rs 1500 Nominal A/c 1. Scooter purchase Rs 3500 2. Printing & stationary Rs 500 3.

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