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
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.
Question : Income and Expenditure account records:
Question : The nature of a discount on the issuance of debentures is-
Question : Which of the following is non-recurring in nature?
Question : Which of the following is recurring in nature?
Question : Fill in the blanks- ____________________= Revenue expenditure - Revenue receipts.
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