Question

what is nominal account give me example ??​

Answer 1

What is nominal account.... Give example.....

The entire purpose of a nominal account is to track the revenue and expenses for a company so that the net profit or net loss for a specific period can be calculated. Examples of nominal accounts are service revenue, sales revenue, wages expense, utilities expense, supplies expense, and interest expense.

Answer 2

Answer:

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What is Nominal Account Give an Example?

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✒Nominal accounts are temporary accounts businesses use to record income, gains, expenditures and losses over a specific accounting period of time.

✒The entire purpose of a nominal account is to track the revenue and expenses for a company so that the net profit or net loss for a specific period can be calculated.

Examples:-

• Service revenue,
• Sales revenue
• Wages expense
• Utilities expense
• Supplies expense
• Interest expense.