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Preparing Financial Statements of NPO-II

In Income and...

Question

In Income and Expenditure account all Expenditure are recorded on ______________.

A

Debit side

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B

Credit side

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C

Income side

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D

None of the above

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Solution

The correct option is B Debit side
In income and Expenditure account all expenditure are recorded on the debit side whereas all incomes are recorded on credit side of Income and Expenditure account.

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