what is an account explain differrnt types of accounts
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According to the double entry system of bookkeeping, there are three types of accounts that help you to maintain an error-free record of your journal entries. Each account type has a rule to identify its debit and credit aspect called as the Golden Rule of Accounting. ... Personal Accounts.Real Accounts. Nominal Accounts.
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An account is a record in an accounting system that tracks the financial activities of a specific asset, liability, equity, revenue, or expense
Different types of accounts are as follows :-
Savings account. ...
Salary account. ...
Fixed deposit account. ...
Recurring deposit account. ...
NRI accounts.
Current account
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