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Question
If a trial balance is not given in the question, and it is not clearly stated whether a particular item is expense or income, it will be treated as ____________.
If a trial balance is not given in the question, and it is not clearly stated whether a particular item is expense or income, it will be treated as ____________.
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Solution
The correct option is C expense
If a trial balance is not given in the question, and its not clearly stated whether a particular item is expense or income, it will be treated as an expense. Reason being conservatism principle,
If a trial balance is not given in the question, and its not clearly stated whether a particular item is expense or income, it will be treated as an expense. Reason being conservatism principle,
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