Question

Drawing is which type of account real ,personal or nominal

Answer 1

Answer:

Drawings account is a representative personal account.A representative personal account represents a person/persons. Some examples of representative personal account are capital, outstanding wages, prepaid salaries.

Answer 2

In his question, we are asked to tell which type of account  is Drawing.

• Drawing is a personal account.
• Drawing is the amount which business owner withdraw from the business for its personal use.
• Drawing can be in cash as well as kind.
• If there is a provision to charge interest then interest on drawing is also charged and the withdrawer has to pay it.
• Personal Account are classified as Natural person, Artificial person, Representative personal accounts.
• A representative personal account represents a person/persons.
• Drawings account is a representative personal account.
• Some examples of representative personal accounts are capital, outstanding wages, prepaid salaries.

PROJECT CODE- #SPJ3

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