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 Audit interview questions  Audit Interview Questions
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 Accounting AllOther interview questions  Accounting AllOther Interview Questions
Question
What is the nature of Outstanding Expenses?
 Question Submitted By :: Anil
I also faced this Question!!     Rank Answer Posted By  
 
  Re: What is the nature of Outstanding Expenses?
Answer
# 1
Expenses which have been incurred but not yet paid during
the accounting period for which the final accounts are being
prepared are as called outstanding expenses.

Example: Trial balance shows salaries paid Rs.22000.
Adjustment : salary for march 2009,Rs.2000 not yet paid.

salaries a/c dr               2000   
 To salaries outstanding a/c            2000
 
Is This Answer Correct ?    7 Yes 1 No
K.abinaya
 

 
 
 
Other Accounting AllOther Interview Questions
 
  Question Asked @ Answers
 
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Expand---------TRED  3
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