how will you classify personal account
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There are mainly 3 types of a/cs in accounting and they are- Real, Personal and Nominal a/cs.
personal accounts are classified into 3 subcategories:-Artificial, Natural, and Representative. These accounts are related to individuals, firms, companies, etc.
Explanation: Examples of personal accounts include debtors, creditors, banks, outstanding/prepaid accounts, accounts of credit customers, accounts of goods suppliers, capital, drawings, etc.
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