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BANK A/C REAL OR PERSONAL ? WHY?
Bank account is a personal account. There are two types of persons in accounting. Natural and artificial. Natural persons mean human beings such as Ram, Mohan and John. Artificial persons do not have physical construction as human beings but they work as personal accounts. These accounts are related to firms, companies, institutions, factories and establishments such as Ram & Sons Account, Sharma & Bros Account, Bank of India Account, Delhi University's Account, Bata Shoe Company's Account, Debtor's Account, Creditor's Account, Capital Account, Drawings Account, etc.


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