Which of the following is a nominal (temporary) account?
A) Unearned Revenue
B) Salary Expense
C) Inventory
D) Retained Earnings
Correct Answer:
Verified
Q25: A trial balance
A)proves that debits and credits
Q26: A journal entry to record a payment
Q27: When an item of revenue is collected
Q28: Nominal accounts are also called
A)temporary accounts.
B)permanent accounts.
C)real
Q30: A journal entry to record a receipt
Q31: Year-end net assets would be overstated and
Q32: When an item of revenue or expense
Q33: If, during an accounting period, an expense
Q34: A journal entry to record the sale
Q42: A general journal
A) chronologically lists transactions and
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