Answer in one sentence only.
What are the rules of Nominal Account?

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Solution

An account which records the financial transaction of business related to expenses, losses, gains and income is known as nominal account.

The rules of Nominal Account states that Debit all expenses/losses and Credit all incomes and gains.

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Answer in one sentence only.What are the rules of Nominal Account?

An account which records the financial transaction of business related to expenses, losses, gains and income is known as nominal account.The rules of Nominal Account states that Debit all expenses/losses and Credit all incomes and gains.

Answer in one sentence only.
What are the rules of Nominal Account?

An account which records the financial transaction of business related to expenses, losses, gains and income is known as nominal account.

The rules of Nominal Account states that Debit all expenses/losses and Credit all incomes and gains.