Accountancy, asked by yokeshramkumar28, 7 months ago

Why subscription written off is added to subscription received during the year

Answers

Answered by Anonymous

3

Explanation:

It records all losses and expenses on its debit side and all incomes and gains on its credit side. Of the incomes and expenses of revenue nature, only the portion pertaining to the current year is shown in the Income and Expenditure Account i.e. amount relating to the previous year or future year are excluded.

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