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Shreya Singh 36Shreya Singh 36 

Rule to stop record creation for account if type is not prospect

Arun Kumar 1141Arun Kumar 1141
Hello Shreya Singh,

We can create a validation rule for Account object. 
AND(
    ISNEW(),
    ISPICKVAL(Type, 'Prospect')
)
ISPICKVAL() will check Account type and ISNEW() will check if any new record is being created.

Please mark it as best answer, if the above solution helps you.
Thank you.