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Question Practice

Which of the following statements is correct regarding the treatment of accrued income?

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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-00053615

Which of the following statements is correct regarding the treatment of accrued income?

1

Accrued income decreases assets.

2

Accrued income does not need to be recorded.

3

Accrued income reflects amounts owed for services and is treated as an asset.

4

Accrued income affects only the cash flow statement.

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