A) Persons
B) Tangible and visible things such as cash, all types of assets
C) All of the above
D) None of the above
Correct Answer: A
Solution :
All Business transactions are classified in to two main group of accounts?1. Personal accounts, 2. Impersonal account. Impersonal accounts are further divided in to?[a] Real or Property account [b] Nominal Account. Personal accounts relate to persons and artificial persons such as firm, constitutions, organizations and representative persons and real or property accounts relate to tangible and visible things or impersonal things like cash, furniture and also intangible assets like good will, talents etc.
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