Question

Which of this following is not an example of nominal account.

i) Rent
ii) Revenue
iii) Deferred revenue
iv) All of the above

Answer 1

Answer:

Deferred revenue is personal account

Explanation:

*Deferred revenue is also known as prepaid revenue or unearned revenue.

*Deferred revenue, refers to advance payments a company receives for products or services that are to be delivered or performed in the future.

*Thus all the income which is payable and receivable will be coming under personal account.

Answer 2

Answer:- Deferred revenue

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