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whatis mean by accured income?

Answer Posted / a.madhu sudhan rao

Accured income means outstanding income

It means that the income which is receiavable

we have to show at Assets Side

For Example during the financial year Purchase is 100000
and sales 150000
profit = 50000

we recieved 40000 during the year and remaining 10000
is accrued income.

Imp: we have to add 10000 to Sales ( 40000+ 10000 )and
again we have to show assets side

Is This Answer Correct ?    23 Yes 7 No



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