Asked/Added Questions From NCERT:

Question 1. Asked on :22 October 2020:06:59:51 PM

What do you mean by Tangible Real Accounts and Intangible Real Accounts?

-Added by nisha sheikh Accountancy » Gk Accounting


nisha sheikh

Tangible Real Account – Those assets which can be touched and have a physical existence are defined as tangible real accounts.

Example  Machinery A/c, Vehicle A/c, Building A/c

Journal Entry –

  • Debit what comes in
  • Credit what goes out

Intangible real account – Those assets which have some monetary values but can’t be touched are referred to as intangible real accounts.

Example – Goodwill, Patents, Copyrights

Journal Entry –

  • Debit what comes in
  • Credit what goes ou

-Answered by nisha sheikh On 22 October 2020:07:01:47 PM(21026Average Rating Based on rating)


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