Question

Classify the following accounts and give brief explanation
(1)
Bank overdraft account
(2) Insurance premium account
(3) Stationery stock account
(4) Commission received account
(5) Shares of Tata Company account
(6) Purchase return account
(7) Gujarat University account
(8) Goods destroyed by fire account​

Answer 1

Answer:

1. Nominal account
2. Nominal account
3. Real account
4. Nominal account
5. Nominal account
6. Nominal account
7. Personal account
8. Nominal account

Answer 2

Answer:

insurance premium account