WAEC Accounting 2014 Paper

Concept:Nominal ledger contains only income and expense accounts, such as sales, purchases, rent, salaries, and commissions.Explanation:A debtor's account, like Sanison's account, is a personal account and belongs to the sales ledger, not the nominal ledger.Motor vehicle account is an asset account, so it appears in the real accounts or general ledger as a balance sheet item.Sales account is an income account, so it is correctly recorded in the nominal ledger.Rent and rates account is an expense account, so it is also correctly recorded in the nominal ledger.Thus, only iii and iv appear in the nominal ledger.Answer:Option D - iii and iv only.