Question

Which of the following account is the artificial person account?

• A. ICICI Bank A/c
• B. Neelam A/c
• C. Wages A/c
• D. Machinery A/c

Answer 1

Answer: (A)

ICICI Bank A/c

An Artificial person is an entity that is recognized by the law as a Legal Person i.e. an entity holding legal rights and duties distinct from the individuals whom comprise it.

For example: A registered company is a person in the sense that it can sue or be sued, as well hold property etc. in it’s own name.

A company is not however, an individual or natural person.