Question

livestock Account in types of account
1)Real Account
2)personal Account
3)Nominal Account
please tell me Answer​

Answer 1

Answer:

real account

Explanation:

because live stocks in type is only real account

Answer 2

The correct answer is option (3) Nominal Account.

Explanation:

• Livestock a/c is a type of Nominal Account.
• When animals are available and held for sale, the farm accountant can value the livestock at their selling price, less any estimated costs of disposal.
• Nominal Accounts are accounts related and associated with losses, expenses, income, or gains.
• The outcome of a nominal account is either profit or loss, which is then ultimately transferred to the capital account.