Which of the following accounts would appear in the nominal ledger? i. Sanison’s account(a debtor) ii. Motor vehicle account iii. Sales account iv. Rent and rates account
- i, ii and iii only
- i, iii and iv only
- ii, iii and iv only
-
iii and iv only
The correct answer is: D
Explanation
Examples of nominal accounts include purchase account, sales account, salary A/C, commission A/C etc. The nominal account is income statement account(expenses, income, loss, profit) and is also known as temporary account unlike balance sheet account ( Asset, Liability, owner's equity) which are permanent account.