Latest Answer : Personal accounts are those accounts which represents any person, artificaial person or they have their own entity like, bank, any authority orany person, real accounts are thiose account which counts all asstes of a firm like furniture and cash etc. ...
Latest Answer : in business transactions which is a recent transaction .it is call dormat account ...
Latest Answer : Hi Sagar
Your question is very good, in my opinion answer is Liabilities are credit and assets are debit side(Right Side), In Indian Accounting rules the performa is this. But US and UK use Assets on left side and liabilities in right. You can also ...
Latest Answer : An Inactive Account is A brokerage account in which few transactions take place. Some brokerage firms levy a fee on accounts in which securities are deposited but no activity occurs during a specified time.A Dormant Account is a savings account showing ...
Latest Answer : If an amount incurred or accounted or paid to establish over a period of time of the business or for the business, these kind of accounts are treated as deferred account.Eg., An advertisement expenses incurred by an organisation etc., ...
What Account is Salary outstanding? Is it real, personnel or nominal account?
Latest Answer : Outstanding Salary A/c is a Representative Personal Account as it represents a group of people to whom some amount of salary is payable. Similarly other outstanding and prepaid expenses also fall under the category of representative personal accounts. ...
What is the meaning of Comprehensive Income
How to account for Letter of Credit in the Books of Accounts of the Company ?
Latest Answer : Inter Company means Two or More Companies under one Group Company.For Example Reliance have different companies like Mobiles, Oil products, malls, telecom, etc., all these companies called Reliance Group.If the saem Vendor is supplying material to all ...