Goodwill accounts, patents account, trademarks account, copyrights account are examples of _____________.

Tangible real accounts

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Intangible real accounts

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Representative personal accounts

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Artificial or legal persons account

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Solution

The correct option is B Intangible real accounts
Accounts relating to properties or assets are known as "Real accounts". A separate account is maintained for each asset e.g. Cash, Machinery, Building, etc. Real accounts can be further classified into tangible and intangible.
Intangible real accounts represent assets and properties which cannot be seen, touched or felt but they can be measured in terms of money. For e.g. Goodwill account, Patent account, Trademark account, Copyright account, etc.

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Similar questions

Q. Match the following:

1. Artificial persons accounts	a) Firms account, educational institution's accounts, bank account etc.
2. Representative personal accounts	b) Prepaid insurance, outstanding wages etc.,
3. Tangible real accounts	c) Building, furniture, cash and machinery etc.
4. Intangible real accounts	d) trademark, goodwill, patents, etc.

State whether the following statements are True or False.

1) Prepaid insurance is nominal account.
2) Personal transactions of proprietor are recorded in the books of account of business.
3) Every debit has equal and corresponding credit.
4) Loan account is personal account.
5) Drawing account is a real account.
6) Commission received is a nominal account.
7) Outstanding wages is a nominal account.
8) Bank of India is an example of real account.
9) An order placed for the goods, entry is passed/recorded in the book of account.
10 Every transaction has only on effect

Q. Income & Expenditure A/c is prepared by transfer of :
(I) Nominal accounts
(II) Real accounts
(III) Personal accounts
The correct answer is ___________________.

Q. Select the most appropriate answer the alternatives given below and rewrite the Sentences.

Under Single entry System only _______________.
a) Personal accounts and cash A/c are opened
b) Real accounts are opened
c) Nominal accounts are opened
d) Real and nominal accounts are opened,

Q. Capital account is a personal account.

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