Accountancy, asked by pooja1237432, 4 months ago

why outstanding expense treated as personal account​

Answers

Answered by almaachuginogmailcom
2

Answer:

The amount of expenditure that has not yet been paid is a liability for the organisation. The persons to whom the organisation owes is its creditor. ... Expenses Outstanding a/c is a personal account with a credit balance. The balance indicates the amount that is owed by the organisation on account of unpaid expenditure.

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