Question

What is the definition of personal account real account nominal account

Answer 1

Real account - All assets of a firm, whether tangible or intangible, fall under the category “Real Accounts“. ...Nominal account - Accounts which are related to expenses, losses, incomes and gains are called Nominal accounts.

Answer 2

A Real Account is a general ledger account relating to Assets and Liabilities other than people accounts. These are accounts that don't close at year-end and are carried forward. ... A Nominal account is a General ledger account pertaining to a