Types of Accounts
On the new account, visit the Settings > Account page. Towards the end of the page is a section for "Advanced account types". Typically you would use "Personal Page - Standard" for a normal personal account with manual approval of “friends” and “followers.” This is the default selection. On this page you can change the type of account if desired.
The other subtypes of a Personal Page are “Soapbox” and “Love-all.” A Soapbox account is an announcement channel that automatically approvals follower requests. Everything posted by the account will go out to the followers, but there will be no opportunity for interaction. This setting would typically be used for announcements or corporate communications. “Love-all” automatically approves contacts as friends.
In addition to Personal Page, there are options for Organization Page, News Page, and Community Forum. Organization and New Pages automatically approve contact requests as followers.
Community Forum provide the ability for people to become friends/fans of the forum without requiring approval. This creates a forum page where all members can freely interact.