Question

Select the most appropriate alternatives from those given below

Outstanding expenses is a __________ account
a) Real
b) Personal
c) Nominal
d) non-of them

Answer 1

Outstanding expense is a Personal account.

Explanation:
Outstanding expenses represent the accounts of all those persons to whom the expenses have to be paid. It represents the expenses that occur due to a person or a group of persons and is classified as a Representative Personal Account.