Share Application Account is in the nature of ______________.
nominal account
real account
none of these
personal account
A
nominal account
B
personal account
C
real account
D
none of these
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Solution
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Share Application or share allotment or Share capital A/c all are personal accounts as they represent money from the shareholders and when money is due, these are to be debited because of the rule "Debit the receiver".
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