Discount received account is a

  • A Real account
  • B Personal account
  • C Nominal account
  • D Profit and loss account

The correct answer is C. Nominal account

In accountingnominal accounts are the general ledger accounts that are closed at the end of each accounting year. As a result, the nominal accounts are also referred to as temporary accounts. The closing process also means that each nominal account will start the next accounting year with a zero balance. Nominal Accounts are accounts related and associated to losses, expenses, income or gains.Examples include purchase account, sales account, salary A/C, commission A/C etc.

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