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There are three types of accounts: personal accounts, real accounts, and nominal accounts. Personal accounts include accounts for individuals and businesses. Real accounts represent tangible and intangible assets. Nominal accounts record expenses, losses, income, and gains. There are also accounting principles and concepts that provide rules for recording transactions, such as the separate entity concept, going concern concept, and dual aspect concept. Accounting conventions like full disclosure, consistenc

Author

Abhilash Kurup

Language

EN