Question

what do u mean by Nominal account ?and personal acc?​

Answer 1

Explanation:

Accounts which are related to expenses, losses, incomes or gains are called Nominal accounts.

Answer 2

Answer:

In accounting, nominal accounts are the general ledger accounts that are closed at the end of each accounting year. ... As a result, the nominal accounts are also referred to as temporary accounts. The closing process also means that each nominal account will start the next accounting year with a zero balance.

A personal account is an account for use by an individual for that person's own needs. It is a relative term to differentiate them from those accounts for business or corporate use.

Explanation:

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