(i) Rent paid A/c (ii) Prepaid Insurance A/c (iii) Carriage Outwards A/c

Question

Classify the following accounts under the types of Personal, Real, and Nominal accounts :

(i) Rent paid A/c

(ii) Prepaid Insurance A/c

(iii) Carriage Outwards A/c

(iv) Rent Receivable A/c

(v) Profit on sale of machinery A/c

Answer 1

(i) Nominal Account

(ii) Personal Account

(iii) Nominal Account

(iv) Personal Account

(v) Nominal Account