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Classify the following account under the types of Personal, Real and Nominal account: Loan A/c - Book Keeping and Accountancy

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Question

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

Loan A/c

Options

  • Personal Account

  • Real Account

  • Nominal Account

MCQ
One Word/Term Answer

Solution

Loan A/c - Personal Account

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Classification of Accounts
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Chapter 2: Meaning and Fundamentals of Double Entry Book-Keeping - EXERCISE [Page 41]

APPEARS IN

Balbharati Book Keeping and Accountancy [English] 11 Standard Maharashtra State Board
Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping
EXERCISE | Q 6. 20) | Page 41

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