Nominal accounts are also called
A) temporary accounts.
B) permanent accounts.
C) real accounts.
D) None of these answers are correct.

Name: Nominal accounts are also called A) temporary accounts. B) permanent accounts. C) real accounts. D) None of these answers are correct.
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Question

Quizplus · Accepted Answer

Nominal accounts are temporary accounts because they are closed at the end of each accounting period and their balances are transferred to the owner's equity or retained earnings account.

Nominal Accounts Are Also Called