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Sales revenue is a: • Real account – Real accounts is an account whic

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| Sales revenue is a:

A. Real account

B. Nominal account

C. Personal account

D. Both Real and Nominal account

Right Answer is: A

SOLUTION

• Real account –Real accounts is an account which rolls forward its closing balance from period to period. Sales revenue is a Real account.

Examples of Real accounts- Fixed asset, cash, accounts receivable, accounts payable, retained earning etc.

• Nominal account- It is an income statement account which is stored for one fiscal year.

• Personal account-This account is related to a firm, individual etc.

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