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At the end of the accounting year, nominal accounts, which include income, expenses, gains, and losses, are closed by transferring their balances to the profit and loss account. This process is essential to determine the net profit or loss for the accounting period. Once these balances are transferred, the nominal accounts are reset to zero and are not carried forward to the next accounting period.
Which of the given statements best describes the difference between the Repo Rate and the Marginal Standing Facility?
Who was the first Indian woman to win an Olympic medal
राणा कुम्भा द्वारा निर्मित अचलग
In Finance, what is Discount Rate?
In which year did Barrister Mukundi Lal receive the fellowship of State Lalit Kala Akademi, Uttar Pradesh?
Choose a hot water lake from the following:
एटीएम मषीन का पूरा नाम क्या है ?
Which is the world’s highest valued currency:
Which company recently became the first to reach a market capitalization of $3 trillion.
The Harbin International Ice and Snow Sculpture Festival, considered the largest in the world, is celebrated in: