[Ans.] Which of the Following is Not a Real Account?
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Which of the Following is Not a Real Account?
So Friends! In accounting, real accounts are accounts that represent assets, liabilities, or owner’s equity, and they are permanent in nature. On the other hand, nominal accounts represent revenues, expenses, gains, and losses and are temporary in nature.
Let’s evaluate the options:
- (A) Cash A/C – This is a real account because it represents an asset (cash) and is a permanent account.
- (B) Investments A/C – This is also a real account as it represents an asset (investments) and is a permanent account.
- (C) Outstanding rent A/C – This is not a real account. Outstanding rent represents a liability (an amount owed by the company) and is classified as a personal account, which is a subcategory of nominal accounts.
- (D) Purchases A/C – This is not a real account. Purchases represent an expense and are classified as a nominal account.
That’s why Out of all the options given below, Option (C) “Outstanding rent A/C” is the correct answer.
- (A) Cash A/C
- (B) Investments A/C
- (C) Outstanding rent A/C
- (D) Purchases A/C
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