Can you explain the answer of this question below: Bank overdraft account is a : 

A:Personal account 

B:Real account 

C:Nominal account 

D:Representative personal account

Bank overdraft account is a **Personal account**.

**Explanation:**

**Personal Account:**
A personal account is an account that represents individuals, firms, or companies. These accounts are used to record transactions for entities rather than specific assets, liabilities, or expenses. Personal accounts can be further classified into three categories: Natural Persons, Artificial Persons, and Representative Personal Accounts.

**Bank Overdraft Account:**
A bank overdraft account is a facility provided by a bank where the account holder can withdraw more money from the account than the available balance. In simple terms, it allows individuals or companies to withdraw funds from their bank account even if they do not have sufficient funds in the account. The overdraft amount is treated as a short-term loan from the bank.

**Classification of Bank Overdraft Account:**
Among the three types of personal accounts, the bank overdraft account falls under the category of a Representative Personal Account.

**Representative Personal Account:**
Representative personal accounts are accounts that represent individuals or entities other than natural persons. These accounts are used to record transactions on behalf of the person or entity they represent. In the case of a bank overdraft account, it represents the individual or company that has availed the overdraft facility from the bank.

**Reasons for Classifying Bank Overdraft Account as a Personal Account:**
The bank overdraft account is classified as a personal account because it represents the account holder who has taken the overdraft facility. It records the transactions related to the overdraft facility, such as the amount withdrawn, interest charged, repayments made, etc. These transactions are specific to the account holder and not related to any particular asset, liability, or expense.

**Conclusion:**
Bank overdraft account is classified as a personal account because it represents the account holder who has availed the overdraft facility. It is used to record transactions related to the overdraft facility and is not specific to any particular asset, liability, or expense.