If the expense side exceeds the income side in the income and expenditure account, there will be ___

Receipts & Payments Account

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Income & Expenditure Account

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Balance sheet

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All of these

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Solution

The correct option is B
Income & Expenditure Account

If the expense side exceeds the income side in the income and expenditure account, there will be deficit

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Similar questions

Distinguish between Receipts and Payments Account and Income and Expenditure Account.

__________ expenditure is shown on the expense side of income and expenditure account.

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