Outstanding expenses are (A) added to the concerned expense head in the Income and Expenditure A/c (to reflect accrual) and (C) shown on the liabilities side of the Balance Sheet as a current liability. Hence A and C are correct.
What will be the accounting treatment of outstanding expenses in the Income and Expenditure A/c. (A) Added in main or concerned head (B) Subtracted…
CUET UG 2023 — Accountancy Financial Statements
2023mcqeasy
What will be the accounting treatment of outstanding expenses in the Income and Expenditure A/c.
(A) Added in main or concerned head
(B) Subtracted from main head
(C) Shown in Balance-Sheet as Liability
(D) Will not be shown in Income and Expenditure A/c
(E) Shown in Receipt and Payment A/c only
Choose the correct answer from the options given below :
Official previous-year question
Held on 11 Jun 2023 · Verified 13 Jul 2026.
Options
- A
(A) and (C) Only
- B
(B) and (C) Only
- C
(D) and (C) Only
- D
(E) and (A) Only
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