Question

what is a account in easy wau​

Answer 1

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Question :-

$\blue{ \underline{ \underline { \bf{What\:is\:Account\:?}}}}$

Answer :-

⭐ Account is th process where business transactions record in systematic way.!

➡️ There are three types of account.!

• Personal Account

• Real Account

• Nominal Account.

1. $\</strong><strong>orange </strong><strong>{ \underline{ \underline { \bf{</strong><strong>P</strong><strong>e</strong><strong>r</strong><strong>s</strong><strong>o</strong><strong>n</strong><strong>a</strong><strong>l</strong><strong>\</strong><strong>:</strong><strong>Account</strong><strong>\</strong><strong>::</strong><strong>-</strong><strong>}}}}$

=) Personal Account is a account which are related to "Persons , firms, Companies"

Example :-

• Debtors

• Creditors

• Prepaid income

• Outstanding income

2. $\</strong><strong>g</strong><strong>r</strong><strong>e</strong><strong>e</strong><strong>n</strong><strong>{ \underline{ \underline { \bf{</strong><strong>R</strong><strong>e</strong><strong>a</strong><strong>l</strong><strong>\:</strong><strong>Account</strong><strong>\</strong><strong>:</strong><strong>:</strong><strong>-</strong><strong>}}}}$

=) All assets including "intangible and tangible " are recorded in Real Account.

Example :-

• Furniture

• Goodwill

• Patent

3. $\</strong><strong>p</strong><strong>i</strong><strong>n</strong><strong>k</strong><strong>{ \underline{ \underline { \bf{</strong><strong>N</strong><strong>o</strong><strong>m</strong><strong>i</strong><strong>n</strong><strong>a</strong><strong>l</strong><strong>\:</strong><strong>Account</strong><strong>\</strong><strong>:</strong><strong>:</strong><strong>-</strong><strong>}}}}$

=) Accounts which are related to "Income and gains, and expenses " Are known as Nominal Account.

Example :-

• Purchase Ac

• Cash Ac

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