Two example of P/R/N &A/C
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p parrots, r rats A/C account
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Personal A/C - Debtor, Creditor
Real A/C - Furniture, Goods
Nominal A/C - Insurance, Rent
Explanation:
Personal A/C are those accounts which are related to firms, companies, individuals, etc.
Real A/Cs are those accounts which can me measured in terms of money and which are the properties of the business.
Nominal A/C are those accounts which are in name only and don't really exist in physical form.
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