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. ...
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. ...
A companys' prinicpal activity is to buy land for development. It is like investing in land and then developing it. Do you treat this land as available for Sale or fair value through statement of
Why is the development of credit policies critical to the organization?
