2021 · Q50
Which one of the following statements is correct about Income and Expenditure Account?
Indian EconomyFiscal policy and budget
- AIt is a Real Account.
- BIt is a Personal Account.
- CIt is a Nominal Account.
- DIt is a Representative Personal Account.
Explanation
Nominal Account and not a real Account. w In Income and Expenditure Account, all the revenue incomes and revenue expenses are recorded and therefore it is a