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Meaning and Fundamentals of Double Entry Book-Keeping — Book Keeping & Accountancy STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyMeaning and Fundamentals of Double Entry Book-Keeping2 Marks
Question
A loan account is a personal account.
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Answer

This statement is True.
The loan is taken from a person or bank and they are persons either natural or person or artificial persons.

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