Question

16. Which one of the following is a permanent representative personal account of share-holders?
(a) Share Application A/c.
(b) Share Allotment A/c
(c) Share Application & Allotment A/c
(d) Share Capital A/c ​

Answer 1

Answer:

The answer is a Option B

Share allotment A C

Answer 2

"(c) Share Application & Allotment A/c and

 (d) Share Capital A/c ​"

Explanation:

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