Question : Which of the following is a temporary representative personal account of shareholders?
Option 1: Share Application A/c
Option 2: Share Allotment A/c
Option 3: Share Application & Allotment A/c
Option 4: All of these
Answer (1)
21st Jan, 2024
Correct Answer: All of these
Solution : Answer = All of these.
All of these accounts—Share Application A/c, Share Allotment A/c, and Share Application & Allotment A/c—are temporary representative personal accounts of shareholders. They represent the initial stages of issuing shares, tracking the application and allotment process, and are closed once the shares are fully issued and allotted.
Hence, the correct option is 4.
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