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What is personal nominal and |
| Answer» There are three types of accounts . Personal , Real and Nominal.1) Personal accounts :- Accounts related to a person, individual, institution , firm etc are called personal accounts. eg. ABC Ltd. , Ram a/c , Debtor\'s a/c.2) Real accounts:- Accounts related to an asset is real account. eg. Machine a/c3) Nominal account :- Accounts related to income and expense of the business is called nominal account. eg. rent a/c, commission a/c\xa0 | |