Real assets
Querist : Anonymous
whats the correct definition of real assets?
Querist : Anonymous
I have also one more question...
Whether purchase a/c is
(a)real account or (b) nominal a/c ..
If its a real a/c why it is mentioned in trading and P/L ? or if its a nominal than what about the entry
* goods lost due to fire a/c .......
To purchase a/c .......
(being goods lost due to fire)
do not adjust in purchase a/c instead stock a/c should be mentioned.
goods loss due to fire will be trf to p&l a/c at the year end.
Querist : Anonymous
this means that
*goods lost in fire a/c..........
To purchase a/c ..........
is a wrong entry ...
* last doubt sir .....why opening stock is entered in trial balance...closing stock is not used ?
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