Income and Expenditure Account is a ______________.

Nominal Account

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Real Account

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Representative Personal Account

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Personal Account

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Solution

The correct option is A Nominal Account
Option A is correct. Nominal account is related to expenses or losses and incomes or gains. Income and Expenditure account is an account prepared by non trading concerns to ascertain surplus or deficit of income over expenditure for a particular period. So Income and Expenditure account is a Nominal account.

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