Real accounts are accounts of properties, assets or things owned by a concern and in which or with which the business is carried on. Real or asset accounts may be :
a. Accounts of tangible assets (i.e., assets which can be seen, touched, felt, bought and sold), such as goods account, cash account, furniture account, vehicles account, machinery account, buildings account, land account, etc.
b. Accounts of Intangible assets (i.e., assets which cannot be seen and touched, but can be felt and bought and sold), such as goodwill account, patent rights account, copy rights account and trade marks account.