Tamil Nadu Board of Secondary EducationHSC Commerce Class 11th
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State the accounting rule for the nominal account. - Accountancy

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Short Note

State the accounting rule for the nominal account.

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Solution

Nominal account

  • Debit all expenses and losses
  • Credit all incomes and gains
Concept: Accounting Rules
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APPEARS IN

Tamil Nadu Board Samacheer Kalvi Class 11th Accountancy Answers Guide
Chapter 3 Books of Prime Entry
Very short answer questions | Q II 7. | Page 58
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