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WAEC Financial Accounting 2002 Question 3

Question 3

Double Entry and the Ledger

Rent Payable Account is an example of a

  1. A.nominal account
  2. B.real account
  3. C.personal account
  4. D.private account.
Show the answer and explanation

Answer: A (nominal account)

Explanation

Rent is an expense, so its account is a nominal account.