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Income Side of Statement of Profit and Loss

expenditure i...

Question

_________ expenditure is in more relation with business activities and are recurring in nature.

A

Revenue

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B

Payment

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C

Outstanding

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D

Prepaid

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Solution

The correct option is C Revenue
Revenue receipts are money earned by a business through its day to day operational activities. These are recurring in nature and directly affects the profit and loss of the business. Thus, the disclosure of revenue receipts are required to be made in the income statement of the company or organization.

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