Question: Which statement is Not true about Nominal accounts? Question 2 options: A ) Closed at the end of each accounting period and the balance is
Which statement is Not true about Nominal accounts?
Question options:
A
Closed at the end of each accounting period and the balance is brought to
B
Includes revenue and expense accounts
C
Includes assets, liabilities and net worth accounts
D
The activity of nominal accounts is found on the income statement
Step by Step Solution
There are 3 Steps involved in it
1 Expert Approved Answer
Step: 1 Unlock
Question Has Been Solved by an Expert!
Get step-by-step solutions from verified subject matter experts
Step: 2 Unlock
Step: 3 Unlock
