Question

income and expenditure account is​

Answer 1

Answer:

The income and expenditure account is outlined by the non-trading entities to determine surplus or deficit of income over expenditures for a particular time frame. The accumulated or accrual concept of accounting is rigidly pursued while outlining income and expenditure a/c of non-trading concerns.

Answer 2

The income and expenditure account is outlined by the non-trading entities to determine surplus or deficit of income over expenditures for a particular time frame. The accumulated or accrual concept of accounting is rigidly pursued while outlining income and expenditure a/c of non-trading concerns.

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