Income and expenditure account is a real account
Asked by admin @ in Accountancy viewed by 497 People
Income and expenditure account is a nominal account ( true/ false
Asked by admin @ in Accountancy viewed by 497 People
Income and expenditure account is a nominal account ( true/ false
Answered by admin @
Answer:
Explanation: In Income and Expenditure Account, all the revenue incomes and revenue expenses are recorded and therefore it is a Nominal Account and not a real Account.
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