Question

kotak bank account is an example of a ________
a. personal account
b. real account
c. nominal account
d. not an account​

Answer 1

Kotak Bank account is an example of a personal account

Answer 2

Answer:

Kotak bank account is an example of a personal account.

Explanation:

A personal bank account is used by an individual to maintain and manage their own personal funds and other assets rather than for company purposes. Instead of a joint or shared business account, this would be your personal banking account. Personal accounts are ledger accounts that record transactions with people or other businesses that your company conducts direct business with. Customers, suppliers, employee wage accounts, employee drawing accounts, owner capital accounts, etc. are a few instances of personal accounts. For daily and routine expenses including rent, utilities, debt repayment, and groceries, one uses a personal account. One keeps their uninvested savings in a personal account as well.

Thus, personal accounts are those that have to do with specific people, businesses, organisations, groups of associations, etc.