JAMB Accounting 2020 Objective — Question 30

Question 30 of 40 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2020 Objective paper, with the correct answer and a full explanation.

30. (i) Land and building account (ii) Salaries account (iii) Rent account (iv) Land repair account. Which of the above is/are nominal account(s)

A. A. i only
B. B. i and ii only
C. C. ii, iii and iv onlyCorrect
D. D. ii and iii only

Explanation

Nominal account is the account used to record transactions that occur regularly, such as rent and wages, etc. Salaries, rent and land repair are nominal accounts.

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