Which of the following accounts would appear in the nominal ledger?

i. Sandison’s account (a debtor)

ii. Motor vehicle account

iii. Sales account

iv. Rent and rates account

A. i, ii and iii only
B. i, iii and iv only
C. ii, iii and iv only
D. iii and iv only

Correct Answer: Option D

D. iii and iv only

Explanation

Examples of nominal accounts include a purchase account, sales account, salary A/C, commission A/C, etc. The nominal account is an income statement account(expenses, income, loss, profit) and is also known as temporary account unlike balance sheet account ( Asset, Liability, owner’s equity) which are permanent account.