Bill Payable is _________.Real A/cPersonal A/cNominal A/cSuspense A/c (2024)

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A

Real A/c

B

Nominal A/c

D

Suspense A/c

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The accounts which are related to individuals, persons and firms are called personal accounts. Personal accounts are further classified into Natural Personal account, Artificial Personal Account and Representative Personal account. Bills Payable represents creditors for purchases. And every creditor is a person whether artificial or personal. Therefore, bills payable is a personal account.

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Bill Payable is _________.Real A/cPersonal A/cNominal A/cSuspense A/c (2024)
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