Match the following:
1. Artificial persons accounts a) Firms account, educational institution's accounts, bank account etc.
2. Representative personal accounts b) Prepaid insurance, outstanding wages etc.,
3. Tangible real accounts c) Building, furniture, cash and machinery etc.
4. Intangible real accounts d) trademark, goodwill, patents, etc.

a, b, c, d

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b, a, d, c

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a, c, d, b

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d, b, c, a

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Solution

The correct option is A a, b, c, d
An artificial person consists of any institution, which can be bank, educational institute or a firm.
Representative personal account means, an account which represents a person which can be prepaid insurance, outstanding wages.etc.
Tangible real account is an account, which is related to the assets that can be felt and seen by eyes.
Intangible real account is an account, which cannot be seen and felt.

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Similar questions

State whether the following statements are True or False.

1) Prepaid insurance is nominal account.
2) Personal transactions of proprietor are recorded in the books of account of business.
3) Every debit has equal and corresponding credit.
4) Loan account is personal account.
5) Drawing account is a real account.
6) Commission received is a nominal account.
7) Outstanding wages is a nominal account.
8) Bank of India is an example of real account.
9) An order placed for the goods, entry is passed/recorded in the book of account.
10 Every transaction has only on effect

Q. Goodwill accounts, patents account, trademarks account, copyrights account are examples of _____________.

Q. Match List I with List II and select the correct answer using the codes given below:

List I	List II
A. Rent prepaid and prepaid Insurance	1. Nominal accounts
B. Goodwill and patents	2. Real accounts
C. Rent, Interest	3. Personal accounts

Q. _______ accounts relates to persons, debtors, creditors etc.

Objective type Questions
Classify the following accounts under the types of personal, Real and Nominal account.

1) Life insurance premium A/c
2) Mr. Kulkarnis’s Capital A/c
3) Goods A/c
4) Freight A/c
5) Wages A/c
6) Goodwill A/c
7) Copyright A/c
8) Outstanding income A/c
9) Bank charges A/c
10) Outstanding expenses A/c
11) Sundry income A/c
12) Income receivable A/c
13) Export duty A/c
14) Furniture A/c
15) Import duty A/c
16) Free sample distribution A/c
17) Sundry expenses A/c
18) Discount A/c
19) Drawings A/c
20) Fixed deposit A/c
21) Profit on sale of furniture A/c
22) Office equipment A/c
23) Bank of India A/c
24) Machinery A/c
25) Carriage Outward A/c
26) Loss on sale of machinery A/c
27) Loan A/c
28) Deposits with MSEB
29) Loss by fine A/c
30) Legal expenses A/c

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1. Artificial persons accounts	a) Firms account, educational institution's accounts, bank account etc.
2. Representative personal accounts	b) Prepaid insurance, outstanding wages etc.,
3. Tangible real accounts	c) Building, furniture, cash and machinery etc.
4. Intangible real accounts	d) trademark, goodwill, patents, etc.