1.6 Classification of accounts Q3

AforAccounts.com

[@sohamagarwal3174]

... Soham Agarwal

[@aarnasingh7977]

Aarna Singh

[@user-ik4yj4yr1u]

Thank you for this precious effort mam

[@rashiparakh3629]

Mam this type of teaching is the best way.. And you are best teacher. Thank you

[@dalipsinghrawat5216]

ma'am you are blessing for us

[@sourabhsharma7731]

Thanku mam

[@sachinchauhan4848]

Fixed deposit is an asset hence it will come under real account

[@heidigk2119]

Is royalty kind of intangible asset?

[@Le.202]

Fixed deposit account is real account

[@vijaywaghmare3126]

Ma'am adity what are the account please answer patwa

[@kingqueen5577]

14 should be nominal

[@Miisolutions]

Sale a/c ,sales return a/c ,purchase a/c and purchase return a/c are real accounts not a nominal account in nature

[@AforAccounts]

The entire purpose of a nominal account is to track the revenue and expenses for a company so that the net profit or net loss for a specific period can be calculated. Examples of nominal accounts are service revenue, sales revenue, wages expense, utilities expense, supplies expense, and interest expense.
So, kindly update your concepts sir.