Which account groups can be classified as a Nominal accounts?

Nominal accounts are those that record the financial transactions of a business in a particular category instead of with a person or another organization. Nominal accounts are also called temporary accounts and are closed at the end of each accounting year.

A few account groups that can be classified as nominal accounts are accounts of buyers, suppliers, owners, and lenders.A few accounts that are examples of accounts that are not nominal are all types of bank, stock, and cash accounts as well as accounts relating to expenses and incomes such as sales, purchases and plant and machinery or vehicle accounts.