Question

insurance personal,real ya nominal account hai? or hai tho kaise plz explain in hindi​

Answer 1

Answer:

insurance is of nominal account as it's an expense for the firm we debit insurance under all losses and expenses

note :- Life insurance premium is a special case as it's for the owner hence the amount paid for life insurance premium is for owners benefit nothing has to do with the firm hence due principle of business entity we put them as drawings

insurance hamare liye kharcha hai isliye ham use debit karte hai nominal account ke antargat nominal account debit kehta hai dr all expenses and losses isliye ham use debit karte hai

note :- life insurance premium ek special case hai kyuki vo owner ke fayde ke liye hota hai to ham business entity concept ke antargat use personal account mein dr karte hai

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