13 July 2016
Is Purchase Account is a Real Account Or Nominal Account ? I think it's nominal account but the problem I had faced is that When I was Searching this in ICAI Website it was Mentioned that it is a Real Account. So, please Clarify My Question
13 July 2016
Purchase is nominal account. purchases considered in trading account after considering & deducting the closing stock, hence it s nominal account only
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