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
Answer (1)
24th Jan, 2024
Correct Answer:
Subscription received in advance
Solution : Subscription received in advance is a liability which will appear in the Balance sheet. Hence, the correct option is 2.
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