Differences between Personal Accounts and Real Accounts:
The main differences between Personal accounts and Real accounts are:
1. Personal accounts are accounts of persons with whom a business deals. On the other hand, real accounts are accounts of properties, assets or things in which or with which a business deals.
2. Personal accounts may represent assets or liabilities. But real accounts represent assets.
3. Personal accounts may show debit balances or credit balances, whereas real accounts generally show debit balances.
The main differences between Personal accounts and Real accounts are:
1. Personal accounts are accounts of persons with whom a business deals. On the other hand, real accounts are accounts of properties, assets or things in which or with which a business deals.
2. Personal accounts may represent assets or liabilities. But real accounts represent assets.
3. Personal accounts may show debit balances or credit balances, whereas real accounts generally show debit balances.
No comments:
Post a Comment