(c)
Journal
9.
Rule of Personal Account is applicable/applied on Liabilities. (True False) Give
1
reason
Answers
Answered by
1
Answer:
Answer is False, because in personal Account we use only Dr. the Receiver ,Cr the Giver
Answered by
0
The statement is False.
- A personal account is generally related to the individuals, consumers and creditors etc.
- They are the debtors' and creditors' accounts, respectively. Debit the recipient, credit the giver is the law for personal accounts.
- This ensures that the person who provides the products or services should be paid, while the person who receives them should be debited in the company's books.
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