On 31-3-13, prepaid expenses A/c (2012-13) shows a closing balance of Rs.5,000. It means: a) Expenses transferred from previous years for Accounting in current year b) Expenses transferred to next year for Accounting in that year only c) Expenses transferred to next year for accounting in that (or) future year d) Expenses to be transferred to P & L A/c of current year.
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