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WAEC Financial Accounting 1996 Question 32

Question 32

Double Entry and the Ledger

Impersonal Accounts contain

  1. A.Real and Cash Accounts
  2. B.Capital and Nominal Accounts
  3. C.Real and Nominal Accounts
  4. D.Investment and Real Accounts
  5. E.Interest Received and Real Accounts.
Show the answer and explanation

Answer: C (Real and Nominal Accounts)

Explanation

Accounts are personal or impersonal; impersonal accounts are divided into real and nominal accounts.