Describe personal account??? class 11
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A personal account is an account for use by an individual for that person's own needs. It is a relative term to differentiate them from those accounts for business or corporate use.
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The accounts which relate to individuals or person, are known as personal accounts. Personal accounts include the following: 1. Natural Persons: Accounts which relate to individuals. ... Note: The proprietor being an individual his capital account and his drawings account are also personal accounts.
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