Which of the following is not shown in income and expenditure account?

Cash

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Credit

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Both Cash and Credit

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None of these

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Solution

The correct option is C
Both Cash and Credit

Specific donations are not shown in income and expenditure account.

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Similar questions

Q. Which of the following item/items will be included in income and expenditure account?
I. Accrued expenses
II. Credit purchases
III. Prepaid expenses
IV. Opening cash balance
Select the correct answer from the codes given and mark your answer sheet accordingly.

The sales income (Credit and Cash) of a business during a given period is called _______.

Q. When the cash credit is not supported by any security, it is called as clean cash credit.

Q. Which of the following statements is/are true?
(i) Cash book records all cash receipts and cash payments.
(ii) Cash book records all sale and purchase transactions of goods both in cash and on credit.
(iii) Cash book records discount on cash payments
Select the correct answer from the options given below :-

Opening balance of cash account is Rs. 2,00,000. Expenditure payable is Rs. 70,000. Amount of cash sales is Rs. 80,000 & Amount of credit sales is Rs. 1,00,000. What is the closing cash balance?

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Which of the following is not shown in income and expenditure account?

The correct option is C Both Cash and Credit Specific donations are not shown in income and expenditure account.

The correct option is C
Both Cash and Credit

Specific donations are not shown in income and expenditure account.