XI ACCOUNTING CLASS 01 HEAD OF ACCOUNTS ! ELEMENTS OF ACCOUNTS! NATURE OF ACCOUNTS
XI ACCOUNTING CLASS 01 HEAD OF ACCOUNTS ! ELEMENTS OF ACCOUNTS! NATURE OF ACCOUNTS
HEAD OF ACCOUNTS / ELEMENTS OF ACCOUNTS/NATURE OF ACCOUNTS
There are only five heads of accounts to maintain the books of accounts.
1) Assets.
2) Liabilities.
3) Owner’s equity / Proprietorship.
4) Revenue and income.
5) Expenditure/ Expense
What are the three basic elements of accounting
The three major elements of accounting are: Assets, Liabilities, and Capital.
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