Multiple choice

Which of the following transactions are recorded in the income and expenditure account?

  1. Both revenue expenditures and revenue incomes

  2. Both revenue and capital nature of transactions

  3. Only capital expenditures and capital incomes

  4. Only cash transactions

  5. Only credit transactions

Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Both revenue expenditures and revenue incomes are recorded in the income and expenditure account.