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This a MCQ (Multiple Choice Question) based practice test of Chapter 6 - Company Accounts Issue of Shares of Accountancy of Class XII (12) for the quick revision/preparation of School Board examinations
Q  Share Application A/c and Share Allotment A/c is:
  • a)
    Real Account
  • b)
    Nominal Account
  • c)
    Fictitious Account
  • d)
    Personal Account
Correct answer is 'D'. Can you explain this answer?
Verified Answer
This a MCQ (Multiple Choice Question) based practice test of Chapter 6...
Share Application Account and Share Allotment Account is personal account.
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Most Upvoted Answer
This a MCQ (Multiple Choice Question) based practice test of Chapter 6...
Hi friend, The share application A/c and Share allotment A/c is a personal A/c . Because , since the application amount comes from owner of business or any other persons. So, Thats why the those accounts are personal account in nature.....i hope it helps you !
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This a MCQ (Multiple Choice Question) based practice test of Chapter 6- Company Accounts Issue of Shares of Accountancy of Class XII (12) for the quick revision/preparation of School Board examinationsQ Share Application A/c and Share Allotment A/c is:a)Real Accountb)Nominal Accountc)Fictitious Accountd)Personal AccountCorrect answer is 'D'. Can you explain this answer?
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