TYPES OR CLASSIFICATION OF REAL ACCOUNTS
Real accounts can be classified in the following two categories:-
(A)Tangible real Accounts:-Tangible real accounts are the accounts of those things which can be touched,felt,measured,purchased,sold etc. Examples of such accounts are cash account,Stock accounts, Furniture accounts,Land accounts,Building accounts etc. It should be noted that bank Accounts is not a real accounts but it is an Artificial Personal Account since it represents the account of the banking Company an artificial person.
(B) Intangible Real Accounts:-These accounts represent such things which cannot be touched,but,of cource,their value can be measured in terms of money.Examples are: Goodwill accounts, Patents accounts, Trade Marks account, Copyrights accounts etc.
Real accounts can be classified in the following two categories:-
(A)Tangible real Accounts:-Tangible real accounts are the accounts of those things which can be touched,felt,measured,purchased,sold etc. Examples of such accounts are cash account,Stock accounts, Furniture accounts,Land accounts,Building accounts etc. It should be noted that bank Accounts is not a real accounts but it is an Artificial Personal Account since it represents the account of the banking Company an artificial person.
(B) Intangible Real Accounts:-These accounts represent such things which cannot be touched,but,of cource,their value can be measured in terms of money.Examples are: Goodwill accounts, Patents accounts, Trade Marks account, Copyrights accounts etc.
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