Question

LIC account is which type of personal account artificial or representative​

Answer 1

Explanation:

Also, three different sub-types of Personal account are Natural, Representative and Artificial. In this article, we will see the 3 golden rules of ...

Answer 2

Answer:

LIC Account is an business entity classified as an artificial Legal Person.

Explanation:

Persons are classified as under, namely:

1. Natural Person: Names of individuals persons are Natural persons accounts. For example; Ram A/c, Shyam A/c.
2. Artificial Legal Person: Names of business entities or organizations.  This  person represents a group. For example; LIC A/c, XYX Limited A/c.
3. Representative Person: All expenses/ incomes outstanding or prepaid are classified into this group. For example; Outstanding salaries A/c, Prepaid insurance A/c.