Bill Payable is -Real A-cPersonal A-cNominal A-cSuspense A-c

Question

Toppr Admin · Accepted Answer

The accounts which are related to individuals- persons and firms are called personal accounts- Personal accounts are further classified into Natural Personal account- Artificial Personal Account and Representative Personal account- Bills Payable represents creditors for purchases- And every creditor is a person whether artificial or personal- Therefore- bills payable is a personal account-

Bill Payable is _________.Real A/cPersonal A/cNominal A/cSuspense A/c

Bill Payable is _________.
Real A/c
Personal A/c
Nominal A/c
Suspense A/c