JAMB Accounts Principles of Accounts 2016 Paper

Concept:Impersonal accounts are accounts that do not belong to persons or organisations.They are divided into real and nominal accounts.Explanation:Personal accounts record dealings with people, firms, or organisations.Impersonal accounts cover every other type of account except personal accounts.Real accounts include assets such as cash, plant, and machinery.Nominal accounts include expenses, incomes, gains, and losses.Thus, impersonal accounts are subdivided into real accounts and nominal accounts.Answer:A. real and nominal accounts.