In income & Expenditure accounts, we record
A)Items of capital nature alone
B)Items of revenue nature alone
C)Both
D)Items of expenditure

Question

Quizplus · Accepted Answer

In income & Expenditure accounts, we record items of revenue nature alone, as these accounts are essentially a type of financial statement for non-profit organizations, similar to the income statement used by for-profit businesses, focusing on how revenue is earned and spent during a particular period, excluding capital transactions.

In Income & Expenditure Accounts, We Record