What are Personal accounts

What are Personal accounts. Describe their types?

E

Expert

Verified

Personal accounts are of persons. From watching such accounts we can find what quantity, we have to provide or what amount, we have to obtain. Personal account can as well classify into sub parts shown below:

(1) Natural person’s personal account
(2) Artificial person’s personal accounts
(3) Representative person’s personal accounts

   Related Questions in Financial Accounting

  • Q : Stages in the life cycle of a family

    There are seven typical stages in the life cycle of a family with children. Fully explain and give an example to describe each of those seven stages.

  • Q : International portfolio for buying

    Why it is easier for an investor willing to diversify his portfolio internationally for buying depository receipts instead of actual shares of the company?

  • Q : Define Fixed Overhead Variance Give a

    Give a short introduction about the term ‘Fixed Overhead Variance’?

  • Q : Essential condition for

    Specify the essential condition for the fixed-for-floating interest rate swap to be possible?

  • Q : Depriciation techniques What are the

    What are the merits and demerits of the techniques shown below of depreciation? • Straight line process • Reducing balance process• Revaluation process • Usage process &b

  • Q : Legal Reasoning and Writing This

      This exercise does not require you to do any research, and does not require you to cite to any references or external materials.  Do not include any constitutional arguments. Like many legal and policy questions

  • Q : Define the term Accounts Payable

    Accounts Payable: It is an accounting entry which symbolizes an entity's obligation to pay off a short-term debt to its creditors. Accounts payable entry is found on balance sheet beneath the heading current liabilities. Accounts payable are frequentl

  • Q : Case study of a global economy The

    The economic recovery is seemingly on track and in fact strengthened during the first half of 2010. The global financial market however, suffered a setback with the turmoil in sovereign debt markets leading to sharp currency movements. The extent of recovery varies ac

  • Q : Motivations for counterparty to enter

    Specify the basic motivations for the counterparty to enter into the currency swap.

  • Q : Free international trade in goods and

    Explain, how economic well-being of a country is improved through free international trade in the goods and services?

©TutorsGlobe All rights reserved 2022-2023.