Which of the following is not a Nominal Account?

Assessment: WAEC SSCE - Financial Accounting - 1998 (Objective) Subject: Financial Accounting

Question 1 Report

Which of the following is not a Nominal Account?
Answer Details
A Nominal Account is a type of account that records expenses, losses, gains, or incomes. Out of the options given, the account that is not a nominal account is the "Furnitures and fittings account." This is because it records the purchase of furniture and fittings which are assets of the business and not expenses, losses, gains or incomes.
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