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Question Practice

How does accrued income impact the profit and loss account?

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MCQ_SA
CBSE
Class 11
Accountancy
Accountancy - II
Financial Statements - II
Question Bank

How does accrued income impact...

Single Answer MCQ
Q-00053611

How does accrued income impact the profit and loss account?

1

It increases total liabilities.

2

It decreases net profit reported.

3

It increases total revenue reported.

4

It does not affect net profit.

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