How do personal accounts differ from impersonal... - JSS1 Business studies Ledgers Question
How do personal accounts differ from impersonal accounts? Provide examples of each.
Personal accounts represent individuals, companies, or organizations with whom a business has financial transactions, such as accounts receivable and accounts payable. Impersonal accounts, on the other hand, include items like accumulated depreciation and contra accounts, which don't fall into the categories of real, nominal, or personal accounts.
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