2017 · Q62
Income and Expenditure Account is
General Accounting Principles, Auditing and InsuranceRecording transactions
- AReal Account
- BPersonal Account
- CNominal Account
- DCapital Account
Explanation
The Income and Expenditure Account of a non-trading concern records all revenue incomes, gains, expenses, and losses for the period, which is the definition of a nominal account. Real accounts record assets, personal accounts record persons, and capital account is not an account class. Hence C.