Question

following the rules of debit and credit choose which account does the given particular pertain to : all expenses and losses

Answer 1

Answer:

this classification is done using 3 golden rules of accounting nominlal account relate to income expenses losses or gains

Answer 2

Nominal account  pertain to all expenses and losses

Explanation:

• Nominal account relate to all expenses and losses. Nominal account debits all expenses and losses according to the Golden rules of accounting.
• Nominal accounts do not have existence or any form. They also relate to the gains and incomes of the business enterprise.  
• Examples of Nominal account are Salary account and Dividend account. Nominal accounts are not personal account.
• Nominal account is a temporary account which holds the balances till one year and after one year they transfer to permanent account.

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which account does the given particular pertain to : all expenses and losses

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