Question

Income and Expenditure Account is a ______.

पर्याय

• Personal Account

• Real Account

• Nominal Account

• Accrued Subscription

Answer 1

Income and Expenditure Account is a Nominal Account.

Explanation:

The Income and Expenditure Account is a Nominal Account because it adheres to the rule of nominal accounting, which states that "debit all expenses and credit all incomes".