Question

Brokerage which types of account 1) real 2) nominal 3) personal​

Answer 1

We can classify the financial accounts under two types of accounts, one is the Traditional Approach and another one is the Modern Approach. Let us deal here with the traditional approach.

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Answer 2

Brokerage is a nominal account. (Option 2)

Nominal account:

• In accounting, nominal accounts are general ledger accounts that are closed at the end of each fiscal year.
• The nominal accounts' end-of-year balances are transferred to a permanent or real general ledger account during the closing operation.
• As a result, nominal accounts and transitory accounts are frequently used interchangeably.
• Hence, brokerage is a nominal account.