Question

explain income/expenditure Management briefly​

Answer 1

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The Income and Expenditure Account is a summary of all items of incomes and expenses which relate to the ongoing accounting year. It is prepared with the objective of finding out the surplus or deficit arising out of current incomes over current expenses. Income and Expenditure Account is a nominal account.

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Answer 2

Explanation:

income: your salary which you get after a weak or month on the base of your service.

expenditure: all your expenses such as food, bill of electricity,bill of gass etc.

management: it very important part to use your income in efficient manner .