What will be the accounting treatment of outstanding expenses in the Income and Expenditure A/c. (A) Added in main or concerned head (B) Subtracted from main head (C) Shown in Balance-Sheet as Liability (D) Will not be shown in Income and Expenditure A/c (E) Shown in Receipt and Payment A/c only Choose the correct answer from the options given below :

Question

Option 1: (A) and (C) Only

Option 2: (B) and (C) Only

Option 3: (D) and (C) Only

Option 4: (E) and (A) Only

AfterBoards · Accepted Answer

The answer is '(A) and (C) Only'. View full solution:

CUET Accountancy 2023 11 June Shift 3 PYQs

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