Real account or personal account

Yes,It's a personal account as it represents artificial personal (legal entity) in the eye of law. But in some cases they treat bank as asset and classify it as real account.Follow what is given in your book.

Sairam Reddy

CA Final

★ 10K+

03-Jul-21 11:42

Bank A/c is personal account it's correct but don't confuse bank account with cash

Mahantesh Biradar

CMA Final

★ 15K+

03-Jul-21 10:57

Thank you so much, bro.

Thread Starter

Vijay K

CA Inter

★ 9K+

03-Jul-21 11:16

You must maintain a clarity in personal accounts classification. Personal accounts are of three categories 1.Natural persons personal account 2.artificial person personal account 3.representative person personal account

Sairam Reddy

CA Final

★ 10K+

03-Jul-21 11:19

Ok bro, so bank account will be go on artificial or legal personal account. Am I right?

Thread Starter

Vijay K

CA Inter

★ 9K+

03-Jul-21 11:27

Ok bro.

Thread Starter

Vijay K

CA Inter

★ 9K+

03-Jul-21 11:45

S

Vigneshwari Viggu

CA Foundation

★ 175

05-Jul-21 10:18