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    Question

    Which of the following is/are feature/features of Income

    and Expenditure Account?
    A It follows Nominal Account Correct Answer Incorrect Answer
    B All Capital incomes and expenditures are excluded Correct Answer Incorrect Answer
    C Profit on sale of asset is credited Correct Answer Incorrect Answer
    D A, b, c and d Correct Answer Incorrect Answer
    E It follows personal account Correct Answer Incorrect Answer

    Solution

    All of the above options excluding e are correctly describing Income and Expenditure Account

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