Question

5. Which of the following is not a personal account.
(a) Bank Account
(b) Drawings Account
(c) Proprietor's Account (d) Livestock Account​

Answer 1

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(d)Livestock Account

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Answer 2

(d) Livestock is not a personal account

Explanation:

As there are three types of account i.e real account, nominal account, and the personal account

The real account is the account which records the assets of the company like - cash,  land & buildings, plant & machinery, live stock, etc

The nominal account is the account which records the expenses, losses, income and gains and are to be reported on the income statement like salaries, wages, etc

And, the personal account is the account which is related to the personal like bank account, drawing account, etc

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