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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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