0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Is depreciation real or nominal account?
It is a real contra account. The nominal account associated with depreciation is depreciation expense.
Is capital account is real account or nominal account?
Real Account
Is profit and loss account is a nominal account?
Yes. Profit and loss account is a nominal account and also trading a/c to be prepared at the end of the year.
Is accumulated depreciation real or nominal account?
It is a real contra account. The nominal account associated with depreciation is depreciation expense.
Is Sales Account nominal or real account?
real accounts
Is depreciation real or nominal account?
It is a real contra account. The nominal account associated with depreciation is depreciation expense.
Is capital account is real account or nominal account?
Real Account
Is profit and loss account is a nominal account?
Yes. Profit and loss account is a nominal account and also trading a/c to be prepared at the end of the year.
Is accumulated depreciation real or nominal account?
It is a real contra account. The nominal account associated with depreciation is depreciation expense.
Is Sales Account nominal or real account?
real accounts
Is suspense account a nominal account?
Not necessarily. It can be of any type. Real, Personal or Nominal.
Liabilities is real accounts or nominal accounts?
nominal account.
Is revaluation account a real account?
yes
Is prepaid insurance account a nominal account?
No, it is a real/permanent account. Insurance expense is a nominal account.
Is unearned revenue nominal account?
no!! =) its a real account
Is inventory a nominal account?
real
Is capital reserve a nominal account or real account?
yes
