Question on: WAEC Accounting - 2015

In accounting, nominal 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.