Question

Share Application and Allotment A/c are ___________.

• A. Personal A/c
• B. Real A/c
• C. Nominal A/c
• D. Addition to Capital A/c

Answer 1

The correct option is A Personal A/c

Share Application or share allotment or Share capital A/c all are personal accounts as they represent money from the shareholders and when money is due, these are to be debited because of the rule "Debit the receiver"