Which of the following are impersonal accounts ? I. Investment II. Creditors III. Premises IV....

Accounts - Principles of Accounts

WAEC 2016

Which of the following are impersonal accounts ?
I. Investment
II. Creditors
III. Premises
IV. Debtors
V. Salaries

A. I, III and IV
B. I, III and V
C. II and IV
D. III and V

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Correct Answer: Option D

Explanation

impersonal account; any account other than a personal account, being classified as either a real account, in which property is recorded, or a nominal account, in which income, expenses and capital are recorded.

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Which of the following are impersonal accounts ? I. Investment II. Creditors III. Premises IV....

Correct Answer: Option D

Explanation

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