Is Income Summary A Nominal Account, A Real Account Or A Personal Account?

Income Summary Is What Kind Of Account
Income Summary Account is not a real account or a permanent account as it is closed to capital account in case of sole proprietorship and partnership and to retained earnings in case of company while real accounts are transferred to balance sheet.



Income summary account is also not a personal account as it is not related with natural or living persons.



Yes, Income Summary is a Nominal Account as it is a temporary account which is finally closed to capital account or retained earnings account.



So, income summary account is a nominal account and not a real account and a personal account.



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