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What is personal account?
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Answer / meenakshirani
These accounts show the transaction with customers,
suppliers and the Bank and the Owners. A business may have
any credit transactions with the other firms.
Example: purchase goods from Rahul with cash
amount = 10000/-
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Answer / krishna..
ledger accounts that records the transaction of individuals
in debtors and creditors
| Is This Answer Correct ? | 4 Yes | 0 No |
A personal account is an account for use by an individual
for their own needs. It is a relative term to differentiate
the said accounts from those accounts for corporate or
business use. The term "personal account" may be used
generically for financial accounts at banks and for service
accounts such as accounts with the phone company, or even
for e-mail accounts.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / shriram joshi
In Finance view, Personal A/c is one of the golden rule in
accounting.
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