Revenue and expense accounts that are periodically closed to the income summary account; temporary owner's equity accounts.
are those accounts that are closed out each period: revenue accounts, expense accounts, and dividend or withdrawals accounts.
A set of accounts held in the nominal ledger. They are termed 'nominal' because they don't usually relate to an individual person. The accounts which make up a Profit and Loss account are nominal accounts (as is the Profit and Loss account itself), whereas an account opened for a specific customer is usually held in a subsidiary ledger (the sales ledger in this case) and these are referred to as personal accounts [Go to source