The term A/C and sales A/C are_ in nature
Answers
Answer:
Explanation:
Furniture A/C, Debit, Real A/C – Dr. what comes in ... Natural personal accounts: This type of personal accounts is the simplest to understand out of all and ... The dictionary meaning of the word “nominal” is “existing in name only” and the meaning ... E.g. Purchase A/C, Salary A/C, Sales A/C, Commission received A/C, etc.
Nominal in nature.
In accounting or book-keeping an A/C is a short term that we can use for the word 'account'. an Account can be of many nature depending upon the nature and policies of the organization. mainly account natures are three types which are real, nominal and personal. real accounts represents anything that is owned by the proprietor. nominal accounts represents any losses, profits, incomes, and gains. personal accounts represents anything that has a name or person. sales account is a nominal account because it represents gain/revenue for the business.