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Question
Which one of the following is a personal account?
Which one of the following is a personal account?
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Solution
The correct option is D Outstanding Salaries A/c
Outstanding
Salary A/c is a
Representative Personal Account as it represents a group of people to whom some amount
of salary is payable.
Similarly other outstanding and prepaid expenses also fall under the category of
representative personal accounts.
Outstanding Salary A/c is a Representative Personal Account as it represents a group of people to whom some amount of salary is payable. Similarly other outstanding and prepaid expenses also fall under the category of representative personal accounts.
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