A. income and expenditure account is prepared
B. income and expenditure account excludes accruals and prepayments
C. Income and expenditure account excludes capital receipts and capital payments
D. receipts and Payments account is a substitute for expenditure account
Correct Answer:
Option D – receipts and Payments account is a substitute for expenditure account
Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…
Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…
Do you want to study Cooperative and Business Management in OOU? Before you apply for…
Do you want to study Home and Hotel Management in OOU? Before you apply for…
Do you want to study Animal Production in OOU? Before you apply for the OOU…
Do you want to study Crop Production in OOU? Before you apply for the OOU…