Which of the Following Is a Nominal Account

question 84

Multiple Choice

Which of the following is a nominal account?

• A) Retained Earnings
• B) Property Taxes Expense
• C) Cash
• D) Common Stock

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Definitions:

U.S. Sanitary Commission

A private relief agency founded in 1861 to support sick and wounded soldiers of the U.S. Army during the American Civil War, precursor to modern Red Cross activities.

Northern Women

Refers to women who lived in the Northern states of the United States, particularly during significant historical periods like the Civil War, noted for their roles in abolition and suffrage movements.

National Banking System

A system established to standardize currency and banking practices across the United States, originally created during the Civil War era.

Money Supply

The total amount of monetary assets available in an economy at a specific time, including cash, coins, and balances held in checking and savings accounts.