Question

Q.2. Classify the following accounts under the types of Personal, Real and Nominal
account: (05)
1. Computer A/c 11. Siddhivinayak Trust A/c
2. Legal Expenses A/c 12. Office Equipment A/c
3. Fixed Deposit A/c 13. Stock of Stationery A/c
4. Income Receivable A/c 14. Indian Railways A/c
5. Audit Fees A/c 15. Income Received in Advance A/c
6. Trademark A/c 16. Dividend on Investment Advance A/c
7. Loss by fire A/c 17. Discount A/c
8. Motor Car A/c 18. Raj and Company A/c
9. Income tax A/c 19. Repairs A/c
10. GST A/c (Goods and Service Tax) 20. Royalty A/c

Answer 1

Explanation:

Natural Person's Personal Accounts. These accounts are related to human beings, physically we can touch them. ...

Artificial Persons Accounts. These are not living or human beings but have a separate entity as per the law. ...

Representative Personal Account