1.

Explain Real Accounts. List Different Accounts Consisting Real Accounts In Practical Circumstances.?

Answer»

Real accounts are the accounts of assets which the company owns and accounts of LIABILITIES which the company owes. Real Account may also consist of some INTANGIBLE assets.

Real Accounts consist of following types of accounts:

  1. Building Account
  2. Furniture Account
  3. Machinery Account
  4. Land Account
  5. GOODWILL Account
  6. PATENT Trade Marks Account

Real accounts are the accounts of assets which the company owns and accounts of liabilities which the company owes. Real Account may also consist of some intangible assets.

Real Accounts consist of following types of accounts:


Discussion

No Comment Found

Related InterviewSolutions