Question

Share Application A/c is

• A. Personal A/c
• B. Real A/c
• C. Nominal A/c
• D. None of these

Hint:

It stands for the group of applicants, so it is a representative personal account.

Answer 1

The Correct Option is A

Step 1: Rule out Real and Nominal:
It is not a Real account because it does not represent a tangible or intangible asset owned by the company; it is not a Nominal account because it records no income or expense.

Step 2: Confirm by elimination:
Since it must fall into one of the three categories and neither Real nor Nominal fits, it is classified as Personal — representing the body of share applicants collectively.

Final Answer:
(A) Personal A/c.