passwella.
Menu

WAEC Financial Accounting 2009 Question 36

Question 36

Double Entry and the Ledger

Which of the following are Personal Accounts? I Wages II Debtors III Creditors IV Buildings

  1. A.I, II and III only
  2. B.II and III only
  3. C.II and IV only
  4. D.III and IV only
Show the answer and explanation

Answer: B (II and III only)

Explanation

Personal accounts are for people or firms: debtors and creditors. Wages is nominal and buildings is real.