Based on how they carry out the effort and how well they perform the task at hand
Answer:
Hi there!
For accounting treatment , accounts are broadly classified into three types as personal account , real account and nominal account or fictitious account. They are as follows:
The account which is related with a person or organization ( entity ), is termed as personal account. Here person means natural persons like Anna , Olivia , James etc and organization represents the artificial persons created by law. The rule for debit and credit for personal accounts is ;
Debit : The receiver
Credit : The giver
The account which is related with assets or property is known as real account. Land and building , plant and machinery, and furniture and fixtures are the examples of the real account. Properties or assets are either incoming or outgoing from the organization. The rule for real account is ;
Debit : What comes in
Credit : What goes out
The account which is related to expenses or loss and income or gain is known as nominal account. Rent , wages , salary , discount , interest and commission are the examples of nominal account. The rule of nominal account is;
Debit : the expenses or losses
Credit : the income or gains
Hope this helps..
Best regards!!
Answer:
They last for a certain period of time
Explanation:
Typically Certificates of Deposit are offered if the set amount is deposited and kept through the stated amount of time. (The length of the CD can be anywhere from 18 months to 3 years [most popular]) When the money is removed short of the stated time period a penalty is taken from the value of the CD.
<span>Predict trend
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hope it helps!</span>