Answer in one sentence only.
Give two examples of personal accounts.

Open in App

Solution

The accounts relating to individuals, firms, association or companies are known as personal account.
Examples of personal account are :
Debtors A/c, creditors A/c, Bank A/c etc.

Suggest Corrections

Similar questions

Answer in One sentence only

1. What is real account?
2. State the meaning of accounting equation.
3. What is rule of debit and credit for nominal account?
4. What do you mean by debit?
5. Give two examples of personal account.
6. What is an account?
7. What is nominal account?
8. Give two examples of real account
9. State whether drawings increases or decreases owner’s equity.
10. State the rule for personal account.

Q. Answer in only one sentence :

Which types of the accounts always have debit balance?

Q. Answer in one sentence only :-

State the meaning of suspense account.

Q. Answer in one sentence only :-

When is suspense account opened?

Q. Answer in only one sentence :

What balance does Capital Account show?

Join BYJU'S Learning Program

Answer in one sentence only.Give two examples of personal accounts.

The accounts relating to individuals, firms, association or companies are known as personal account.Examples of personal account are :Debtors A/c, creditors A/c, Bank A/c etc.

Answer in one sentence only.
Give two examples of personal accounts.

The accounts relating to individuals, firms, association or companies are known as personal account.
Examples of personal account are :
Debtors A/c, creditors A/c, Bank A/c etc.