Question

Which of the following account is the artificial personal account?

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

Answer 1

The correct option is A ICICI Bank A/c

Personal accounts are related to individuals, firms, companies, etc. A few examples of personal accounts include debtors, creditors, banks, outstanding.prepaid accounts, accounts of credit customers, accounts of goods suppliers, capital, drawings, etc.

Personal accounts are classified into three subcategories: Natural, Artificial and Representative accounts.

Natural personal accounts: This type of personal accounts is the simplest yo understand out of all and includes all God's creations who have ability to deal, who, in most cases, are people.

Artificial personal accounts: Personal accounts which are created artificially by law, such as corporate bodies and institutions, are called Artificial personal accounts.

Representative personal accounts: Accounts which represent certain person or group directly or indirectly.

Hence, ICICI Bank A/c is the artificial personal account, as it is created artificially by law.