what is representative personal accounts??
explain with examples...

Answer Posted / raghupathi vengala

The Accounts in which indirectly deals with the persons is
called Representative Personal Accounts.
Eg: groups, Dwakra Groups, Sharemulla etc..

Is This Answer Correct ?    18 Yes 31 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Why TDS not Deducted on Service tax amount of Rent.

1812


Explain what makes a successful account manager?

633


Cello pen gross value is 935.89 for 12 nos 14.5% tax

1435


SHADOW BALANCE SHEET

12905


What is a business transaction in accounting?

656






Scope and nature of Accounting

1678


What is invoice processing can u explain it?

2475


In 3 way match.....Order qty is 100 and received 90 and 10 got rejected. But the supplier sent an invoice for 100 qty. what are the steps we need to take in SAP. Whether we need to reject the invoice or process with the 90 qty .please explain with real time.

1807


A non-function currency claim:- Employee while updating a non functional currency claim the system uses the period end rate i.e. any claim pertaining to the period 01Aug - 25th Aug. the system uses the period end rate as of July 31st. (2) Also, what is the basis of using the period end rate not the average rate for expenses claim. Can you please clarify my question.

1557


Can you differentiate accounting and auditing?

657


What are mis reports and do you prepare it?

635


How many accounting standards are currently published?

695


What happens to the company's "cash account" if it borrows money from the bank by signing a note payable?

685


Can we Put "TAX INVOICE" in the sale in Transit (E1) Invoice.

1583


Where a cash discount should be recorded in a journal entry?

631