Which of the following is a representative Personal A/c?
Correct answer: A. Outstanding Salary A/c
- A. Outstanding Salary A/c
- B. Rent A/c
- C. SBI A/c
- D. Bad debts A/c
Explanation
Outstanding Salary Account represents the employees or salary recipients to whom the amount is payable, making it a representative personal account. Rent and bad debts are nominal accounts, while SBI Account is a personal account of the bank.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
Practise Accounting Principles
351 free Accounting Principles MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Accounting questions like this
Accounting is on 3 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.