Accountancy, asked by subhan5516, 1 year ago

Distinguish between personal and impersonal accounts

Answers

Answered by myrakincsem
7

A personal account is used by a person whereas an impersonal account is not made for the personal use of a person.

Differences between a personal and impersonal account:

  • A personal account can be described as an account that is used for the personal needs of the maker of that account.
  • On the other hand, an impersonal account can be described as an account which is not personal and it can be used by other people who are given access to it.
  • An impersonal account does not bear the name of a person and can be used for mutual business etc.

Answered by jitendrakumar8047
3

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