New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    When errors committed in one accounting year are

    located and rectified in the next accounting year, ______ account is opened for correction of the amount relating to income/expenses.
    A manufacturing Correct Answer Incorrect Answer
    B trading Correct Answer Incorrect Answer
    C suspense Correct Answer Incorrect Answer
    D profit and loss adjustment Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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