Question

1.siddhivinayak trust is which type of account

real account
personal account
nominal account

2.stock of stationery

real account
personal account
nominal account

3.income received in advance

real account
personal account
nominal account

Answer 1

Answer:

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Answer 2

1. Personal account.

The accounts which represent individuals or organizations come under Personal accounts. like purchasers, sellers, owners, firm's name, capital account, etc. Since Siddhi Vinayak Trust is an organization, it will come under Personal accounts.

2. Real account

The accounts which represent assets or liabilities come under Real accounts. like cash, creditors, loan, machinery, furniture, goods, building, equipment, etc. Since the stock of stationery is an asset, it will come under real accounts.

3. Personal account.

The accounts which represent individuals or organizations come under Personal accounts. like purchasers, sellers, owners, firm's name, capital account, etc. Since income received in advance represents a person, it will come under personal accounts.