Question

Share Application Account is in the nature of ______.

पर्याय

• Real Account

• Personal Account

• Nominal Account

• None of the above

Answer 1

Share Application Account is in the nature of Personal Account.

Explanation:

The Share Application Account is the account where money received from applicants for shares is first recorded. Since it represents the company’s liability to the applicants (until shares are allotted), it is treated as a Personal Account.