Question

Real account deals with a)Immersive Reader b)Individual persons Expenses and losses c)Assets d)Incomes and gains

Answer 1

Real account

A real account is an account that retains and rolls forward its ending balance at the end of the year.

Real accounts also include contra asset, contra liability, and contra equity accounts, since these accounts retain their balances beyond the current fiscal year.

Real accounts are not listed in the income statement.