Personal Account: It
deals with accounts of individuals like creditors, debtors, bank, etc. It shows the balance due to these individuals
or due from them on a particular date.
Real Account: It
presents assets like plant and machinery, land and buildings, goodwill, etc. as
on a particular date, this account shows the worth of the asset.
Nominal Account: It
consists of different types of expenses or incomes or loss or profit. These accounts show the amount of income
earned or expenses incurred for a particular period say a month, a year, etc.
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