The Balance Sheet is a nominal account. (State True or False)
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Answered by
4
False..
balance sheet not a ACCOUNT
is a Statement.
balance sheet not a ACCOUNT
is a Statement.
Answered by
3
Answer:
No, the given statement is false as the balance sheet is not a nominal account.
Explanation:
The balance sheet is not an account but a statement which contains the summary of personal and real accounts.
It is defined as a statement having all the records of a company's capital and property and also how much has been received and paid out.
It is helpful in providing a base for computing rates of Return and also evaluating the capital structure of a company or business.
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