Advertisements
Advertisements
Question
Answer in one sentence only:
What is Personal Account?
Solution
Personal account represents a person and group of persons with whom business deals.
APPEARS IN
RELATED QUESTIONS
Answer in one sentence only.
What is an Account?
Write one word/term or phrase which can substitute the following statement.
The Assets which cannot be seen, touched or felt.
Select the most appropriate alternatives from the given below and rewrite the statement:
Machinery Account is ______ account.
State whether the following statement is True or False with reasons:
Capital account is a real account.
State whether the following statement is True or False with reasons:
Discount received is a nominal account.
State whether the following statement is True or False with reasons:
Outstanding salary is a nominal account.
State whether the following statement is True or False with reasons:
Loan account is personal 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:
Laptop account is a ______ account.
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 account:
Loose Tools A/c
Classify the following accounts under the types of Personal, Real, and Nominal accounts:
Cartage A/c
Classify the following accounts under the types of Personal, Real and Nominal account:
Patent A/c
Classify the following accounts under the types of Personal, Real and Nominal account:
Outstanding Income 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:
Live Stock A/c
Classify the following account under the types of Personal, Real and Nominal account:
Radhika’s 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:
Audit Fees A/c
Classify the following account under the types of Personal, Real and Nominal account:
GST A/c (Goods and Service Tax)
Classify the following account under the types of Personal, Real and Nominal account:
Raj & company A/c
Classify the following account under the types of Personal, Real and Nominal account:
Royalty A/c
