Credit balance in income and expenditure account reveals
Dear Student
Right answer is Option (d) Excess of Income over Expenditure
Reason: Income and Expenditure account is a Nominal Account and therefore credit balance reveals Incomes and gains.
Regards.
Right answer is Option (d) Excess of Income over Expenditure
Reason: Income and Expenditure account is a Nominal Account and therefore credit balance reveals Incomes and gains.
Regards.