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Accounting For Not-for-profit Organisation


Expense outstanding on the date of balance sheet is shown on ______
Options:
A. Liabilities side of Balance Sheet
B. Receipts and Payments A/c
C. Income and Expenditure Account
D. Both Income and Expenditure A/c and in Balance Sheet.

 Next Question
Answer: Option D
: D

Expense outstanding on the date of balance sheet is shown on both the income and expenditure account and on liabilities side of balance sheet.

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