Chapter: Accounts of 'Not for Profit' Concerns· Book-Keeping & Accountancy

Income and Expenditure Account is a _____ Account.

Q.1 (C) (5) Income and Expenditure Account is a _____ Account.

A. Capital

B. Real

C. Personal

D. Nominal

Doubtly Asked 29 Oct 2026 Board exam · March 2024 hsc 12th Save WhatsApp Report

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Answer: D. Nominal

Answer: (d) Nominal

Income and Expenditure Account records only revenue incomes and expenses of the current year on accrual basis, like a Profit and Loss Account, so it is a nominal account.

Doubtly AI · 29 Oct 2026 AI-generated · not yet verified Report

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Income and Expenditure Account is a _____ Account.

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