What is nominal account ?
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Answer / maitreyee
Nominal account is related with
losses,expenses,income&gain.
rule-Debit all expenses &losses
Credit all income and gains
example-rent a/c, salary a/cetc.
| Is This Answer Correct ? | 170 Yes | 11 No |
Answer / sirisha
Nominal account is related with
losses,expenses,income&gain.
rule-Debit all expenses &losses (rent a/c, postage and
stationary)
Credit all income and gains (sales, dis received, int
received)
| Is This Answer Correct ? | 112 Yes | 13 No |
Answer / gayathri
Debit all expenses &losses
Credit all income and gains
example-rent a/c, salary a/cetc.
| Is This Answer Correct ? | 61 Yes | 9 No |
Answer / ratan das
nominal a/c is realted with losses,expenses,income and gain
dr:-repairing,stolen
cr:-purcahse
| Is This Answer Correct ? | 48 Yes | 10 No |
nominal a/c is the a/c in which we calculate income(gains)
expenses(losses)
nominal a/c having following rule:-
Dr. All expenses & losses
Cr. All income & gain
| Is This Answer Correct ? | 40 Yes | 5 No |
Answer / tapan
rule are nominal a/c-
Debit all expenses &losses
Credit all income and gains
| Is This Answer Correct ? | 29 Yes | 1 No |
Answer / wasim faruque
All expenses and losses are debited(for eg.rent,salary etc.
All incomes and gains are credited(for eg.income
received,discount received,free sample.)
| Is This Answer Correct ? | 30 Yes | 3 No |
Answer / suraiya
Nominal account is related losses and expenses
income and gain eg.rent payable,salary to staff,postage,
stationary,printing,telephnobe bill,
income (rent recieved,bill recived ,etc)
| Is This Answer Correct ? | 26 Yes | 3 No |
Answer / sujay mandal
nominal a/c is realted with losses,expenses,income and gain
dr:-repairing,stolen
cr:-purcahse
example-rent a/c, salary a/cetc.
| Is This Answer Correct ? | 28 Yes | 8 No |
Answer / mahesh
NOMINAL ACCOUNT IS SUMMERY ACCOUNT IS RELATES TO ALL
INCOMES & EXPENDITURE.
FOR EXAMPLE:- INCOME & EXPENDITURE ACCOUNT IS UNDER THIS
ACCOUNT THIS ACCOUNT USABLE FOR LAWYERS & TEACHERS.
| Is This Answer Correct ? | 14 Yes | 7 No |
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