Question

Choose the correct options :
(a) Income and Expenditure Account reveals :
(i) Gross Profit
(iii) Surplus or Deficiency
(iv) Cash Balance
T The relationship of partners with the firm is
(i) As owner and agent (ii) As servant
(iii) As manager
(iv) As monopolist​

Answer 1

Answer:

Income and expenditure Accout reveals

cash balance

The relationship of partners with firm is

As owner and agent