Question

what is personal account ??​

Answer 1

Answer:

A personal account is an account for use by an individual for that person's own needs. It is a relative term to differentiate them from those accounts for business or corporate use.

Answer 2

Answer:

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=>A personal account is an account for use by an individual for that person's own needs.

=>It is a relative term to differentiate them from those accounts for business or corporate use..

Types:-

• Natural Persons:- These accounts relate to natural persons such as Veer's A/c, Ayan's A/c, Karen's A/c etc.
• Artificial Accounts:-These accounts relate to companies and institutions such as Kapoor Pvt Ltd A/c, Booker's Club A/c etc.
• Representative Accounts.

Examples:-

• Customers
• Vendors
• Salary accounts of employees
• Drawings
• Capital accounts of owners