Question : Income and expenditure account records income and expenditure of :
Option 1: Capital nature only
Option 2: Revenue nature only
Option 3: both Revenure and capital nature
Option 4: None of the above
Answer (1)
7th Jan, 2024
Correct Answer: Revenue nature only
Solution : Income and Expenditure Account records income and expenditure of a revenue nature only. Hence, the correct option is 2.
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