Which of the following is not an example of nominal account? a) Outstanding liability account b) Sal - (a) Outstanding liability account Description: Outstanding liability is not a nominal account as it reflects a liability and is a representative personal account. Note: Salary, interest paid and interest received are nominal accounts. - Journal Entries Interview Questions and Answers

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Question: Which of the following is not an example of nominal account? a) Outstanding liability account b) Salary Account c) Interest paid account d) Interest received account

Answer: (a) Outstanding liability account
Description: Outstanding liability is not a nominal account as it reflects a liability and is a representative personal account.
Note: Salary, interest paid and interest received are nominal accounts.

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Question: Which of the following is not an example of nominal account? a) Outstanding liability account b) Salary Account c) Interest paid account d) Interest received account

Answer:

(a) Outstanding liability account
Description: Outstanding liability is not a nominal account as it reflects a liability and is a representative personal account.
Note: Salary, interest paid and interest received are nominal accounts. Source: CoolInterview.com

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