[Solved] Which of the following is an example of a representative per (2024)

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  1. Outstanding rent A/c
  2. Factory building A/c
  3. Mehta and Sons A/c
  4. Wages and salaries A/c

Answer (Detailed Solution Below)

Option 1 : Outstanding rent A/c

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[Solved] Which of the following is an example of a representative per (2)Key PointsPersonal Account :

  • These accounts types are related to persons. These persons may be natural persons like Raj’s account, Rajesh’s account, Ramesh’s account, Suresh’s account, etc.
  • These persons can also be artificial persons like partnership firms, companies, bodies corporate, an association of persons, etc.
  • For example – Rajesh and Suresh trading Co., Charitable trusts, XYZ Bank Ltd, C company Ltd, etc.

[Solved] Which of the following is an example of a representative per (3)Important PointsThree Types of Personal Accounts

  • Real, Personal and Nominal accounts are the traditional classification of account types in accounting, however, personal accounts are further distinguished under three categories such as Natural, Artificial, and Representative.
  • Golden rule of accounting for personal accounts is – Debit the Receiver & Credit the Giver.

Representative Personal Account:This account is different as compared to the other two types of personal accounts as it refers to accounts which represent a person or a group. (It is not directly their account but it represents & is linked to them).

Examples: Outstanding expense A/C, Prepaid expense A/C, Accrued Income A/C, Income received in advance A/C, Unearned commission A/C, etc.

[Solved] Which of the following is an example of a representative per (4)Additional Information

  1. Natural Personal Accounts:These accounts are related to human beings i.e. natural persons who are created by God. They possess a physical existence. Examples: Sam’s A/C, Maya’s A/C, Capital A/C, Drawings A/C, Debtor’s A/C, Creditor’s A/C, etc. come under the category of natural personal accounts.
  2. Artificial Personal Accounts:Second among three types of personal accounts is “Artificial” personal account. These accounts do not have a physical existence however, they are recognized as persons in business dealings. Most often they are legal entities created by human beings. Example: Any Public or Private company A/C, Bank A/C, Club A/C, Insurance company A/C, NGO A/C, Cooperative society A/C, etc. would fall under this category.
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More Basics of Accounting Questions

Q1.Which of the following statements are true?1. Prepaid rent is a Personal A/c.2. Interest on Drawings is an income for the business.3. Accrued income and income due but not received are same.4. Cost of obtaining licence to carry out business is a capital expenditure.

Q2.“Legal expenses incurred to defend a suit for breach of contract to supply goods” is

Q3.Prepaid Rent A/c is a

Q4.Professional people like doctors, lawyers, etc., ascertain their profit or loss under

Q5.The price realized on the sale of the asset after its useful life is called _____.

Q6.Which of the following statements is INCORRECT in the context of accounting concepts?

Q7.Which of the following statements is true?

Q8.Match the following.1.Personal Accountsa.Value of properties2.Real Accountsb.How much money the firm owes3.Nominal Accountsc.Heads of income and expenses

Q9.Which of the following statements is correct in the context of the single-entry system?

Q10.Which of the following statements is INCORRECT for financial accounting?

[Solved] Which of the following is an example of a representative per (2024)

FAQs

What are representatives? ›

Also referred to as a congressman or congresswoman, each representative is elected to a two-year term serving the people of a specific congressional district. Among other duties, representatives introduce bills and resolutions, offer amendments and serve on committees.

How many House of Representatives are there per state? ›

Each state sends two Senators to represent their state in the U.S. Senate. However, in the House of Representatives, a state's representation is based on its population. For example, smaller states like Vermont and Delaware have one representative while large states like California have 53 representatives.

What describes allocative representation in Quizlet? ›

What describes allocative representation? when members of Congress secure national resources for their local district.

Who does the Senate represent? ›

Senators represent their entire states, but members of the House represent individual districts. The number of districts in each state is determined by a state's population. Each state has a minimum of one representative in Congress. The House and Senate have evolved into very different bodies.

What are examples of representative government? ›

The US Congress and British Parliament, for example, are both representative governments because the politicians represent people from different parts of the country in the political arena.

What are the three types of representatives? ›

There are three main types: delegate, trustee, and politico.

How many representatives per population? ›

The Number of Representatives shall not exceed one for every thirty Thousand, but each State shall have at least one Representative;… The phrase "all other persons" refers to slaves, a word not used in the Constitution until the Thirteenth Amendment.

How many U.S. representatives are there? ›

The number of voting representatives in the House is fixed by law at no more than 435, proportionally representing the population of the 50 states.

What states have most representatives? ›

As of the 2020 census, the largest delegation was California, with 52 representatives. Six states have only one representative: Alaska, Delaware, North Dakota, South Dakota, Vermont, and Wyoming.

What are the four types of representatives? ›

Can someone please explain the four models of representation (delegate, partisan, trustee and mirror). Thank you. A senator speaking in the Senate.

What is an example of a symbolic representation? ›

Symbolic representations are also used for spatial entities. Familiar examples are metro and similar public transport maps. A common characteristic of many such maps is that they started life as lines drawn on a city map to indicate the route of each metro line and the position of the stations (Figure 2).

Where does a bill go after the House of Representatives? ›

If the bill passes by simple majority (218 of 435), the bill moves to the Senate. In the Senate, the bill is assigned to another committee and, if released, debated and voted on. If the Senate makes changes, the bill must return to the House for concurrence.

What does each Senate represent? ›

Its makeup is different too: two senators represent each state, and senators serve staggered six-year terms.

What branch makes laws? ›

The legislative branch is made up of the House and Senate, known collectively as the Congress. Among other powers, the legislative branch makes all laws, declares war, regulates interstate and foreign commerce and controls taxing and spending policies.

What are the three branches? ›

Learn about the executive, legislative, and judicial branches of the U.S. government. The Constitution of the United States divides the federal government into three branches: legislative, executive, and judicial. This ensures that no individual or group will have too much power.

What is the role of the representatives? ›

The House of Representatives: is where government is formed; decides matters of national interest; represents the interests of people in their electorates; proposes, debates and votes of bills and amendments; examines issues in committees; and scrutinises executive government.

What are the representatives in a democracy? ›

Elected representatives typically form a legislature (such as a parliament or congress), which may be composed of a single chamber (unicameral), two chambers (bicameral), or more than two chambers (multicameral). Where two or more chambers exist, their members are often elected in different ways.

Are Congress and representatives the same? ›

Established by Article I of the Constitution, the Legislative Branch consists of the House of Representatives and the Senate, which together form the United States Congress.

What is a congressman vs Representative? ›

While a reference to a member of the Senate is typically referred to quite straightforwardly as Senator (followed by "name" from "state"), a member of the House of Representatives is typically idiomatically referred to as Congressman or Congresswoman (followed by "name" from the "number" district of "state"); or, ...

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