What are Nominal Accounts? List accounts consisting the Nominal Account?
Submitted by: AdministratorNominal Accounts are the accounts of Incomes, Expenses, Losses and Gains. Nominal Accounts consist of the following types of accounts:
-Insurance Account
-Wages Account
-Interest Paid or Received Account
-Commission Paid or Received Account
-Telephone Expenses Account
-Salary Account
Submitted by: Administrator
-Insurance Account
-Wages Account
-Interest Paid or Received Account
-Commission Paid or Received Account
-Telephone Expenses Account
-Salary Account
Submitted by: Administrator
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