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Bank is which type of account, (a) Real, (b) nominal, (c) neither a nor b. ?

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Question added by Anil Lalwani , Chief Accountant , Al Ahli Hospital
Date Posted: 2016/09/19
kranti  yadav
by kranti yadav , Chartered Accountant , Ram gopal Verma

bank is neither real nor nominal,, irs persnal account

Paramdeep Singh Kler
by Paramdeep Singh Kler , ACCOUNT MANAGER , BHATIA BROTHERS

C option reason bank is a personal account and in the given options personal account is not available.

Deleted user
by Deleted user

Nominal accounts are income statement accounts which are closed by end of the accounting year. Real accounts are the balance sheet accounts where balances at the end of the accounting year are carried forward to the next accounting year.

 

Ryan Adra
by Ryan Adra , Budget and reporting manager , Irrawaddy Green Towers

Bank is a real account which is inside the "Cash and Cash equivalents" line item on the Balance sheet and is treated as a current asset.

Anil Lalwani
by Anil Lalwani , Chief Accountant , Al Ahli Hospital

Go for B com. You can do it, week eye sight can be covered with eye glasses. But once if time is gone that can not be covered.

i want to do b com but my eye sight is weak can i join it? please guide me on

Naga Raj Ybn
by Naga Raj Ybn , Article/Audit Assistant , Subbarao Vamanan & Co; Chartered Accountants

C) It is Personal Account according to Golden rules of accounting convention

It is neither A nor B. It is Personal Account. 

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