Multiple choice

What type of account is a bank account?

  1. Personal account

  2. Intangible real account

  3. Nominal account

  4. Real account
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A Correct answer
Explanation

A bank account is treated as a personal account because the bank is considered a legal entity/artificial person. Under the three traditional types of accounts (Personal, Real, Nominal), bank accounts fall under personal accounts as they represent a relationship with a person (the bank). While banks deal in money, the account itself represents the person, not the asset.

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