What is the nature of deficiency account?? Is it personal real or nominal account??
What is the nature of deficiency account?? Is it personal real or nominal account??
Deficiency account is prepared to show total losses of company on account of various reasons. It is just a statement and does not follow principles of double entry.
Thus, it would not fall into any category you mentioned above.
Sorry for replying a little late. It can be nominal account in that case.
Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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