Nominal Accounts Are Also Called

question 7

Multiple Choice

Nominal accounts are also called

• A) temporary accounts.
• B) permanent accounts.
• C) real accounts.
• D) None of these answer choices are correct.

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Definitions:

Brokers

Intermediaries that arrange transactions between buyers and sellers for a commission.

Loss

A reduction in value, particularly referring to finances, such as money, or other assets.

Insured

A person or entity covered under an insurance policy, receiving protection against specified losses or damages.

Intravenous Drug User

An individual who administers drugs directly into the bloodstream through a vein, often associated with higher risk of certain diseases.