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Accounting Test

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Multiple Choice

When Interest is received on Sinking Fund Investment method, which of the following accounts will be credited?

(i) Interest on Sinking Fund Investment account

(ii) Sinking Fund account

(iii) Bank account

  1. Only (I) and (ii)
  2. Only (ii) and (iii)
  3. Only (I) and (iii)
  4. (I), (ii) and (iii)
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