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Question
Answer in one sentence only:
What is Personal Account?
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Solution
Personal account represents a person and group of persons with whom business deals.
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Loss by fire A/c
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Income tax A/c
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Siddhivinayak Trust A/c
Classify the following account under the types of Personal, Real and Nominal account:
Office Equipment A/c
Classify the following account under the types of Personal, Real and Nominal account:
The stock of Stationery A/c
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Repairs A/c
