Which of the following belongs to the Nominal Ledger?
Question 1 Report
Which of the following belongs to the Nominal Ledger?
Answer Details
The Nominal Ledger is a ledger account that records all the revenues, expenses, gains, and losses of a business, i.e., all the transactions that relate to the income statement.
Out of the options provided, the "salaries account" belongs to the Nominal Ledger since it is an expense account used to record the salaries paid to employees.
The "creditors account" and "debtors account" belong to the Personal Ledger, which is used to record the transactions related to individual persons or organizations.
The "fixtures account" and "stock account" belong to the Real Ledger, which is used to record the transactions related to tangible assets such as property, plant, and equipment or inventory.
Therefore, the correct answer is "salaries account".
Download The App On Google Playstore
Everything you need to excel in your exams
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning