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GCE Financial Accounting 1989 Question 8

Question 8

Double Entry and the Ledger

Which of the following accounts belongs to the Personal Ledger?

  1. A.Purchases account
  2. B.Capital account
  3. C.Machinery account
  4. D.Depreciation account
  5. E.V. Okafor's account.
Show the answer and explanation

Answer: E (V. Okafor's account.)

Explanation

Personal accounts are accounts of people or firms, such as V. Okafor's account.