Question :
Which of the following will not appear in Income and Expenditure Account?
Option 1:
Depreciation on furniture
Option 2:
Subscription received in advance
Option 3:
Loss on sale of investments
Option 4: All of these
Correct Answer:
Solution : Subscription received in advance is a liability which will appear in the Balance sheet. Hence, the correct option is 2.
Which of the following will appear on the debit
Receipts and Payments Account does not include
General donations are treated as:
Which of the following is not a feature of a
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