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Question Practice

Which of the following statements about outstanding expenses is correct?

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

Which of the following stateme...

Single Answer MCQ
Q-00053586

Which of the following statements about outstanding expenses is correct?

1

They are always paid immediately.

2

They must be reported in the next accounting period.

3

They represent expenses incurred in the current period, not yet paid.

4

They reduce net income permanently.

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