Commerce · Q171

Costing

Graduate and Post Graduate · Commerce · question 171

Q171

Process a/c is ________.

A.

nominal a/c

Answer

B.

a real a/c

C.

personal a/c

D.

either nominal or real a/c

Answer: Option A

Solution

Answer: Option A

Solution:

Process a/c is nominal a/c. A process account which is similar to a ledger account in financial accounting is an equivalent of a nominal account.

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