Explanation:

Accounts relating to income, revenue, gain, expenses and losses are termed as nominal accounts. These accounts are also known as fictitious accounts as they do not represent any tangible asset. A separate account is maintained for each head or expense or loss and gain or income. Wages account, Rent account, Commission account, Interest received accounts are some examples of nominal account. 

The rule for Nominal accounts is: Debit all expenses and losses; Credit all incomes and gains