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महाराष्ट्र राज्य शिक्षण मंडळएचएससी कला (इंग्रजी माध्यम) इयत्ता ११ वी

State whether the following statement is True or False with reasons: Loan account is personal account. - Book Keeping and Accountancy

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प्रश्न

State whether the following statement is True or False with reasons:

Loan account is personal account.

पर्याय

  • True

  • False

MCQ
चूक किंवा बरोबर

उत्तर

This statement is True.
Amount received or paid for a temporary period from or to a person is known as loan account. Here, the person is involved, therefore loan account is a personal account.
shaalaa.com
Classification of Accounts
  या प्रश्नात किंवा उत्तरात काही त्रुटी आहे का?
पाठ 2: Meaning and Fundamentals of Double Entry Book-Keeping - EXERCISE [पृष्ठ ४०]

APPEARS IN

बालभारती Book Keeping and Accountancy [English] 11 Standard Maharashtra State Board
पाठ 2 Meaning and Fundamentals of Double Entry Book-Keeping
EXERCISE | Q 4. 7) | पृष्ठ ४०

संबंधित प्रश्‍न

Answer in one sentence only.

What is an Account?


Answer in one sentence only:

What is Personal Account?


Write one word/term or phrase which can substitute the following statement.

Accounts of Expenses and Losses and Incomes and Gains.


Select the most appropriate alternatives from the given below and rewrite the statement:

Radha's Account is a type of ______ account.


Fill in the blank:

Increase in capital is credited and decrease in capital is ______


Fill in the blank:

Debit what comes in and credit what goes out is the rule of ______ account.


Fill in the blank:

______ accounts are accounts of properties and assets.


Classify the following accounts under the types of Personal, Real and Nominal account:

Mr. Rohit’s capital A/c


Classify the following accounts under the types of Personal, Real, and Nominal accounts:

Drawing A/c


 Classify the following accounts under the types of Personal, Real, and Nominal accounts:

Prepaid Rent A/c


Classify the following accounts under the types of Personal, Real and Nominal account:

Copyright A/c


Classify the following accounts under the types of Personal, Real and Nominal account:

Prepaid Expenses A/c


Classify the following account under the types of Personal, Real and Nominal account:

Plant and Machinery A/c


Classify the following account under the types of Personal, Real and Nominal account:

Live Stock A/c


Classify the following account under the types of Personal, Real and Nominal account:

Bank of Maharashtra A/c


Classify the following account under the types of Personal, Real and Nominal account:

Loan A/c


Classify the following account under the types of Personal, Real and Nominal account:

Computer A/c


Classify the following account under the types of Personal, Real and Nominal account:

Audit Fees A/c


Classify the following account under the types of Personal, Real and Nominal account:

Loss by fire A/c


Classify the following account under the types of Personal, Real and Nominal account:

Siddhivinayak Trust A/c


Classify the following account under the types of Personal, Real and Nominal account:

Office Equipment A/c


Classify the following account under the types of Personal, Real and Nominal account:

Income Received in Advance A/c


Classify the following account under the types of Personal, Real and Nominal account:

Repairs A/c


Classify the following account under the types of Personal, Real and Nominal account:

Royalty A/c


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