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State whether the following statement is True or False with reasons: Loan account is personal account. - Book Keeping and Accountancy

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प्रश्न

State whether the following statement is True or False with reasons:

Loan account is personal account.

विकल्प

  • True

  • False

MCQ
सत्य या असत्य
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उत्तर

This statement is True.
Amount received or paid for a temporary period from or to a person is known as loan account. Here, the person is involved, therefore loan account is a personal account.
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  क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
अध्याय 2: Meaning and Fundamentals of Double Entry Book-Keeping - EXERCISE [पृष्ठ ४०]

APPEARS IN

बालभारती Book Keeping and Accountancy [English] Standard 11 Maharashtra State Board
अध्याय 2 Meaning and Fundamentals of Double Entry Book-Keeping
EXERCISE | Q 4. 7) | पृष्ठ ४०

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