which year adjustment are taking into consideration in income and expenditure account
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income and expenditure account is a nominal ac . like profit and loss ac.
which can be use in all organisation Profit gain organisation or NOP
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Answer: All incomes and expenses relating to the accounting year, whether they are actually received and paid or not, are taken into consideration. ... Also, adjustment for amounts prepaid and outstanding, with respect to each item will have to be ...
Explanation:
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