Question : Which one of the following is a permanent 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: Share Capital A/c
Correct Answer: Share Capital A/c
Solution : Answer = Share Capital A/c
The permanent representative personal account of shareholders is Share Capital Account. This account records the amount of capital contributed by shareholders to the company and represents their ownership stake. Share Application, Share Allotment, and Share Application & Allotment accounts are temporary accounts related to the process of issuing shares and do not reflect permanent ownership.
Hence, the correct option is 4.
