Rent outstanding is an example of which type of account? MCQ with Answer and Explanation

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Rent outstanding is an example of which type of account?

A. Representative Personal Account

B. Real Account

C. Nominal Account

D. Artificial Personal Account

Answer: Option A

Solution (By JKExamLibrary)

Outstanding expenses represent amounts payable to specific persons, thus classifying them as representative personal accounts.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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