Question

Nominal account rule is:

• A. Debit all assets and liabilities, credit all incomes and gains
• B. Debit all incomes and gains, credit all expenses and losses
• C. Debit all assets and expenses, credit all liabilities and incomes
• D. Debit all expenses and losses, credit all incomes and gains

Answer 1

Answer:

D. Debit all expenses and losses, credit all incomes and gains

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