Which of the Following Account Groups Are Nominal Accounts

question 46

Multiple Choice

Which of the following account groups are nominal accounts?

• A) Cash, Dividends, Wages Payable
• B) Prepaid Insurance, Equipment, Fees Earned
• C) Common Stock, Dividends, Income Summary
• D) Rent Revenue, Fees Earned, Miscellaneous Expense

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Definitions:

Internal

Existing or situated within the confines of an object, individual, or group, often referring to inner qualities or operations.

External

Originating from or existing outside oneself or the subject being considered, often influencing it from the outside.

Stable Internal

Characteristics or attributes within a person that are enduring and consistent across different situations, influencing behavior and attitudes.

Unstable External

Situations or factors outside an individual's control that are unpredictable and can affect their life or decisions.