First of all, how many types are account of?
Ans-Account is of 3 types :
- 1 PERSONAL ACCOUNT
- 2 REAL ACCOUNT
- 3 NOMINAL ACCOUNT
PERSONAL ACCOUNT- Every transaction related to the person is known as personal account. A/c stands for account. For example- Ram’s account, Shyam A/C.
REAL ACCOUNT- Any account related to assests is called real account.There are two types of real account :
- 1. tangible assets
- 2.intangible assets.
Tangible assets-Tangible assets have any physical shape which can be seen and touched. for example-furniture,books etc,
Intangible assets – These do not have any physical shape which can not be seen and touched. For example-goodwill, PATENTS,Trade marks,copyright,designs,etc
Now, Try solving these questions :
- 1. What is account?
2. Define business?
3. What is not for profit organisation?
4. What stands for NPO?
5. Tell me two terms of business?
6. Tell me features of business?
7. What is the meaning of business?
8. How many types are account?
9. DEfine tangible assets?
10. Define intangible assests?
11.Tell me examples of personal, real account?
Fill in the blanks :
- Accont is___________ more.
- Account is a _________ of business.
- business as a human ___ under which goods are dealt in for profit making.
- Trading means__________
- NON TRADING means___________