--%>

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 : Define Goods Define Goods briefly as an

    Define Goods briefly as an inventory?

  • Q : Real gross profit ratio and standard

    Is real gross profit ratio is bigger than standard gross profit ratio?

  • Q : Explain Project Accounting Project

    Project Accounting: It is sometimes termed to as job cost accounting and is the practice of making financial reports particularly designed to track financial growth of projects, which can then be utilized by managers to support project management.

  • Q : Define uniform cost manual Give a brief

    Give a brief introduction of the term ‘uniform cost manual’. And also write down its different contents?

  • Q : Hedging transaction exposure and money

    Compare and discuss the hedging transaction exposure by using the forward contract vs. money market instruments. When the optional hedging approaches do creates the same result?

  • Q : Pricing spill-over effect Discuss

    Discuss pricing spill-over effect.

  • Q : Social issues & person statuses Think

    Think of person you will who often irritates you or whose behaviour greats on your nerves. First list that person statuses and role then analysed his or her possible role expectations, role performance, role conflict and role strai

  • Q : Methods handling translation gains and

    How translation gains and losses are handled differently as per current rate method as compared to the other three methods, which is, monetary/nonmonetary method, current/noncurrent method, and the temporal method?

  • Q : Cost accountant With Black

    Black Manufacturing Company Black Manufacturing produced a single product called the Great Beast. During the past three weeks, Lee High, the new cost accountant, had observed that production efficiency and input pr

  • Q : Calculate depreciation expense for the

    On December 31, 20x3, the PPE Company purchased an asset costing $1,000,000. The asset’s useful life is expected to be 10 years with a residual value of $300,000. a. Calculate the depreciation expense for 20x4 using: