1
Question
Income and expenditure account is also called as a ________ account.
Income and expenditure account is also called as a ________ account.
Open in App
Solution
The correct option is B nominal
Income & expenditure accounts are prepared by considering all the incomes and expenses. Incomes & expenses are nominal accounts. Hence Income & expenditure account is a nominal account.
Income & expenditure accounts are prepared by considering all the incomes and expenses. Incomes & expenses are nominal accounts. Hence Income & expenditure account is a nominal account.
Suggest Corrections
0
Similar questions
View More
Join BYJU'S Learning Program
Explore more
Join BYJU'S Learning Program
