Outstanding expense are _________ to expense.

Added

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Deducted

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No effect

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None of these.

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Solution

The correct option is B Added
An outstanding expense is a liability and shown in Balance Sheet as a liability. An outstanding expense is added to the respective expense in profit and loss account.

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Similar questions

State the meaning of

(a) Outstanding expenses

(b) Prepaid expenses

(d) Accrued income

State the meaning of:

(a) Outstanding expenses

(b) Prepaid expenses

(d) Accrued income

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