Which of the Following Are Nominal Accounts

question 36

Multiple Choice

Which of the following are nominal accounts?

• A) Merchandise Inventory
• B) Capital
• C) Expenses
• D) Cash

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Definitions:

Multinational Enterprise

A large corporation that owns and controls production or delivers services in more than one country.

Foreign Corrupt Practices Act

A U.S. law that prohibits companies and their supervisors from bribing foreign officials to obtain or retain business.

American Company

A corporation or business entity that is registered, operates, or has its principal place of business in the United States.

Anti-Dumping Statute

Laws designed to protect domestic industries from foreign companies selling products at a price lower than their market value or cost of production.