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Which of the following are closed at the end of an...

This question belongs to Commerce Accounting
Accounting
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Which of the following are closed at the end of an accounting period?

Answer & Solution
Correct Answer: Option A
Nominal accounts in accounting are the temporary accounts, Revenue or Expense are transferred to profit and loss account and closed at the end of each accounting year.
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Khushbu Degadwala
Khushbu Degadwala 8 years ago
kindly inform reason for Nominal account.
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