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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.
This question is part of UPSC exam. View all Commerce courses
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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