Question

Explain Real Accounts. List Different Accounts Consisting Real Accounts In Practical Circumstances.?

Answer 1

Real Accounts: Accounts relating to properties and assets which are owned by the • business concern are. Real accounts, which include tangible and intangible accounts. For example, I /and. Rui Wing. Machinery, Furniture, Stock. Good will etc,

Answer 2

Answer:

Real account are those account whose values can be measured in terms of many such as cash account, building account and goods account etc.

There are two types of real accounts-

• Tangible real account

Those accounts which are made for the things which can be touched, seen, felt and measured at known as tangible real accounts. for example cash account, land account etc.

• Intangible real account

Those accounts which are made for the things which cannot be touched and measured are known as intangible real account. for example Goodwill account and copyright account.

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