i am in a confusion as to whether purchase a/c is a real a/c or nominal a/c?
CA SUDIPTA SINHA
(Commerce Coaching- Accounts Cost FM)
(735 Points)
Replied 24 February 2009
purchase a/c is nominal a/c. because any type of expenses, revenues,losses and gains are nominal account...
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9058 Points)
Replied 28 March 2009
SUDIPTO IS RIGHT
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India