Loan account is a personal account in nature so increase with debit and decrease with credit.
Not necessarily. It can be of any type. Real, Personal or Nominal.
No, it is a real/permanent account. Insurance expense is a nominal account.
It is not a personal a/c, nor a nominal account, alike cash it is real a/c.
Real account personal account nominal account
It may be real account or personal account depending upon the type of liabilities. it can however never be a nominal account
Not necessarily. It can be of any type. Real, Personal or Nominal.
No, it is a real/permanent account. Insurance expense is a nominal account.
A nominal real account represents incomes, gains, expenses, and losses. A personal account represents a person's and organization's expenses.
It is not a personal a/c, nor a nominal account, alike cash it is real a/c.
Real account personal account nominal account
It may be real account or personal account depending upon the type of liabilities. it can however never be a nominal account
The account related to the individual firm , company,and institution is called personal account. THE account related to the things or properties of business organisation whose valuation can be done in terms of cash is called real account. the account related to the income , expenses,profit and gain is called nominal account. .
It is a real contra account. The nominal account associated with depreciation is depreciation expense.
Real Account
It is a real contra account. The nominal account associated with depreciation is depreciation expense.
real accounts
nominal account.