Which of the following is not recorded in the Income and Expenditure Account as an Income to the organisation?
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Answered by
2
Answer:
Profit on the sale of a fixed asset
Explanation:
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Answered by
0
Answer:
Income and expenditure account records all those transactions which are of capital nature, that is, they affect the capital.
Out of all only profit and loss are of capital nature and hence have to be recorded in income & expenditure account.
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