Multiple Choice Questions on Identify the nominal account ........ for UPSC EPFO Exam Preparation

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Multiple Choice Questions

Identify the nominal account ........

General Accounting Principles Introduction to Accounting
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    Identify the nominal account 

    Machinery account 

    Incorrect Answer

    Building account 

    Incorrect Answer

    Creditors account 

    Incorrect Answer

    Rent expenses account

    Correct Answer
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    Explanation:

    Rent expenses account is the nominal account. In other words, nominal accounts are the accounts that report revenues, expenses, gains, and losses.

    By: DATTA DINKAR CHAVAN
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