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Which of the following is a real account?
- a)Building A/c
- b)Capital A/c
- c)Rent A/c
- d)All these.
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Which of the following is a real account?a)Building A/cb)Capital A/cc)...
Understanding Real Accounts
Real accounts are part of the three main types of accounts in accounting: real accounts, nominal accounts, and personal accounts. They represent assets and liabilities and are found on the balance sheet.
What is a Real Account?
- Real accounts refer to accounts that represent tangible and intangible assets.
- They carry their balances over from one accounting period to the next.
Examples of Real Accounts
- Building A/c: This account represents a physical asset, namely the building owned by the business. It is categorized as a real account because it reflects the value of an asset that the company possesses.
- Capital A/c: This account represents the owner's equity or interest in the business. While it pertains to ownership, it is often classified as a personal account due to its relation to the individual or entity.
- Rent A/c: This account records expenses related to the rental of property. It is a nominal account because it represents an expense incurred over a specific period.
Conclusion
In summary, among the options provided:
- Building A/c is the only real account, as it directly reflects an asset.
- Capital A/c and Rent A/c serve different purposes and are classified as personal and nominal accounts, respectively.
Thus, the correct answer is option 'A': Building A/c, as it is the only real account in the list.
Real accounts are part of the three main types of accounts in accounting: real accounts, nominal accounts, and personal accounts. They represent assets and liabilities and are found on the balance sheet.
What is a Real Account?
- Real accounts refer to accounts that represent tangible and intangible assets.
- They carry their balances over from one accounting period to the next.
Examples of Real Accounts
- Building A/c: This account represents a physical asset, namely the building owned by the business. It is categorized as a real account because it reflects the value of an asset that the company possesses.
- Capital A/c: This account represents the owner's equity or interest in the business. While it pertains to ownership, it is often classified as a personal account due to its relation to the individual or entity.
- Rent A/c: This account records expenses related to the rental of property. It is a nominal account because it represents an expense incurred over a specific period.
Conclusion
In summary, among the options provided:
- Building A/c is the only real account, as it directly reflects an asset.
- Capital A/c and Rent A/c serve different purposes and are classified as personal and nominal accounts, respectively.
Thus, the correct answer is option 'A': Building A/c, as it is the only real account in the list.
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Community Answer
Which of the following is a real account?a)Building A/cb)Capital A/cc)...
Because building is an asset for our business. and every asset is real account
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Which of the following is a real account?a)Building A/cb)Capital A/cc)Rent A/cd)All these.Correct answer is option 'A'. Can you explain this answer?
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