Bayt.com

Start networking and exchanging professional insights

Register now or log in to join your professional community.

Follow

Any Nominal Account Head prefixed or suffixed by the terms outstanding, prepaid, still receivable, etc., is a Personal Account. True or False?

Accounting Cost Accounting Financial Accounting
user-image
Question added by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.
Date Posted: 2014/09/08
Upvote (7) Views (3) Followers (8) Answers (3) Report Question
Write an Answer
Register now or log in to answer.
SREEDEVI SUNILKUMAR
by SREEDEVI SUNILKUMAR , Business finance officer , Emirates Airline

True

Khaled Mohee Eldeen Abbas Mahmoud
by Khaled Mohee Eldeen Abbas Mahmoud , Chartered Accountant # 10465 , Self-employed

yes true. nominal account is related to expenditure / loss or income / gain

Kumar Thenuwara
by Kumar Thenuwara , Executive Secretary , Al Sulaiman Inter Market International

False

Write Your Answer
More Questions Like This