15 April 2012
it is Real account. One thing purchase account uses for the purpose of purchase of goods those are used for trading(i.e for re-sale(business)).
16 April 2012
Ms. Prakhar Kalani those expenses or incomes which are transferred or charged to Profit & loss accounts comes under nominal account. And when classification of account considering natures of asset or transaction important and for which account or statement charging is ir-relavent.
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