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.
Receipts and Payments Account does not include
General donations are treated as:
Which of the following will appear on the debit
Which of the following is not a feature of a
An account akin to Profit and Loss Account in
Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile