WAEC Accounting 2016 Paper

Concept:Accounts are either personal accounts or impersonal accounts.Impersonal accounts include real accounts (assets) and nominal accounts (expenses/incomes).Explanation:Creditors and Debtors are personal accounts because they relate to persons or firms.Investment and Premises are real accounts because they are assets.Salaries is a nominal account because it is an expense.Real and nominal accounts are impersonal accounts.So, Investment, Premises, and Salaries are impersonal accounts.Answer:I, III and V — Option B.