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Real account records
Dealings with creditors or debtors
Dealings in commodities
Gains and losses
All of the above
Real account types are related to assets or properties. They are further classified as Tangible real account and Intangible real accounts. Tangible Real Accounts: These include assets that have a physical existence and can be touched. For example – Building A/c, cash A/c, stationery A/c, inventory A/c, etc. Intangible Real Accounts: These assets do not have any physical existence and cannot be touched. However, these can be measured in terms of money and have value. For Example – Goodwill, Patent, Copyright, Trademark, etc.
By: Brijesh Kumar ProfileResourcesReport error
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