--%>
Assignment Help - homework help

What are Impersonal accounts

What are Impersonal accounts and how it is classified?

E

Expert

Verified

Impersonal accounts: All accounts that are not personal are termed as impersonal accounts. This can be classified into sub part.

(a) Real Account: Real account illustrates the assets.

(b) Nominal Account: Nominal accounts are of expenditures and income. All expenses and income are converted to nominal account.

   Related Questions in Financial Accounting

  • Q : Foreign subsidiary conforming norm of

    Specify some conditions under which you would suggest that foreign subsidiary conforms to local norm of the financial structure?

    		•
  • Q : International portfolio for buying

    Why it is easier for an investor willing to diversify his portfolio internationally for buying depository receipts instead of actual shares of the company?

    		•
  • Q : Real gross profit ratio and standard

    Is real gross profit ratio is bigger than standard gross profit ratio?

    		•
  • Q : Financial report Details of Assignment

    Details of Assignment : You are required to form a team (group) of 3 to 4 m embers. Let your lecturer know the names of your team members. Select a set o f financial statements for a group of companies and obtain approval from your le cturer for the group of companies that you have selected.

    		•
  • Q : Prepare the balance sheet At the end of

    At the end of March, 2006 the balances in the various accounts of TTTTT & Company are as follows: Rs. in million Accounts Balance Equity capital 120 Preference capital 30 Fixed assets (net) 217 Reserves and surplus 200 Cash

    		•
  • Q : Cause why relationships tend to come

    Identify and briefly explain the patterns in terms of how relationships tend to come apart (not together) or deteriorate. Use a real or hypothetical illustration to describe each of such phases.

    		•
  • Q : Pre-requisites to apply Budgetary

    Write down the pre-requisites to apply Budgetary Control?

    		•
  • Q : Psychological Health Psychological

    Psychological Health: The employees have noted in their survey feedbacks that their peer relations are based on trust and are healthy. But the nature of work is such that they see lot of suffering. Their interaction with clients at times is not health

    		•
  • Q : Phenomenon of pricing-to-market

    Describe the phenomenon of pricing-to-market.

    		•
  • Q : Brokering Creativity Explain the term

    Explain the term Brokering Creativity in Creative industry ?  

    		•