From the List of Accounts Below, Determine Whether the Account

question 23

Multiple Choice

From the list of accounts below, determine whether the account would be a nominal account or a real account.
-Cash

• A) nominal account
• B) real account

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Definitions:

11%

A percentage representing eleven parts out of a hundred.

Property Value

Typically refers to the monetary worth of a real estate property, established for the purpose of taxation or sales.

Compounded 12 Times Per Year

Refers to the process of applying interest to an original amount of money, with the interest being calculated and added twelve times in a year.

Compounded 365 Times Per Year

A term used in finance to indicate that interest is calculated and added to an account's balance 365 times in one year, or daily.