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Which of the following considered a nominal account? a) Inventory b) Cash c) Rent Expense d) Accounts Payable accounts is

Which of the following considered a nominal account? a) Inventory b) Cash c) Rent Expense d) Accounts Payable accounts is

College Accounting (Book Only): A Career Approach
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter5: Closing Entries And The Post-closing Trial Balance
Section: Chapter Questions
Problem 5DQ: What is the purpose of the Income Summary account? How does it relate to the revenue and expense...
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Which of the following considered a nominal account? a) Inventory b) Cash c) Rent Expense d) Accounts Payable accounts is
Transcribed Image Text:Which of the following considered a nominal account? a) Inventory b) Cash c) Rent Expense d) Accounts Payable accounts is
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