Nominal account having credit balance represents?
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Subject:
Accountancy -
Author:
bradyntrevino -
Created:
1 year ago
Answers 1
Answer:
Answer: Nominal Accounts with Credit balances. ... The total (sum) of balances in all the nominal (ledger) accounts with a credit balance indicates the total (incomes + gains). If the total of (expense + losses) and (incomes + gains) are set off, we would be able to arrive at the profit or loss made.
Explanation:
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Author:
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