It is a real contra account. The nominal account associated with depreciation is depreciation expense.
Real Account
It is a real contra account. The nominal account associated with depreciation is depreciation expense.
real accounts
Not necessarily. It can be of any type. Real, Personal or Nominal.
nominal account.
yes
No, it is a real/permanent account. Insurance expense is a nominal account.
no!! =) its a real account
real
yes
A nominal real account represents incomes, gains, expenses, and losses. A personal account represents a person's and organization's expenses.