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Income and Expenditure Account

Balance of In...

Question

Balance of Income and Expenditure Account shows ____

A

Cash in hand

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B

Capital Fund

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C

Net Profit

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D

Excess of Income over Expenditure or vice-versa

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Solution

The correct option is D
Excess of Income over Expenditure or vice-versa

Balance of income and expenditure account shows surplus or deficit.

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