Nature of accounts

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MANJOT SINGH (Querist)
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12 September 2010 AS PER THE ICAI STUDY MATERIAL OF CPT COURSE SALES IS CONSIDER AS NOMINAL A/C AND SALES RETURN IS CONSIDER AS REAL A/C. HOW IS IT IS POSSIBLE? AS COMPARE TO THE LAST QUESTION ICAI POINT OF VIEW THE CORRECT OPTION IS SALES RETURN A/C.REMAINING ITEMS ARE GENERALLY INVOLVED IN THE NOMINAL A/C. SO THE ODD ONE OUT IS SALES RETURN A/C.

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CA SMR (Expert)
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13 September 2010 Nominal accounts are those which represents expense,losses,incomes,gains.Real accounts represents assets.Accordingly both sales and sales return accounts will be nominal.