Income and expenditure account is more detailed than receipts and payments account because it disclosed?

By: |Published on: Dec 1|Categories: Accounting JAMB| 0 comments

A. cash
B. cheques
C. debtors
D. stocks

Correct Answer:

Option C – debtors

Explanation

The income and expenditure account unlike the receipts and payments takes records of accruals and prepayment

Users Also Read These:

SEE ALSO  The addition of prime cost; indirect cost and opening work-in-progress less the closing work-in-progress will result in cost of?

Copyright warnings! Do not copy.