GCE Accounting 2023 Objective — Question 31

Question 31 of 50 from the General Certificate of Education (GCE) Accounting 2023 Objective paper, with the correct answer and a full explanation.

The accounts maintained in the nominal ledger are (a) income and capital (b) expenses and income (c) liabilities and capital (d) assets and liabilities

A. income and capital
B. expenses and incomeCorrect
C. liabilities and capital
D. assets and liabilities

Explanation

The nominal ledger holds accounts that deal with expenses, incomes, losses and gains.

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