Answered: Which of the following is considered a…

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

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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Question

answer this financial accounting mcq

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

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