Discount received account is a
...Discount received account is a
Real account
Personal account
Nominal account
Profit and loss account
Correct answer is C
In accounting, nominal accounts are the general ledger accounts that are closed at the end of each accounting year. As a result, the nominal accounts are also referred to as temporary accounts. The closing process also means that each nominal account will start the next accounting year with a zero balance. Nominal Accounts are accounts related and associated to losses, expenses, income or gains.Examples include purchase account, sales account, salary A/C, commission A/C etc.
The primary classification of government expenditure is based on ...
An amount of Le2000 received from a customer, Koffi has been credited to another customer, Kofigo...
Use the following to answer the given question BALANCE SHEET: \(\begin{array}{c|c} & N &am...
Goods can be charged to branches using any of these pricing methods except ...
Which of the following is not a personal account? ...
Wages of machine operators in manufacturing account are treated as ...