What do you understand by Accrued Income?

Incomes which have been earned & received

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Income earned by a company for providing a service or selling a product for which money is yet to be received.

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Incomes which are yet to be earned

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None of the above

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Solution

The correct option is B
Income earned by a company for providing a service or selling a product for which money is yet to be received.

Accrued income is income earned for providing a service or selling a product for which money is yet to be received.

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