CBSE Class XII Accountancy Exam 2012 Question Paper

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Question : 1
Total: 23
Name an item which is never shown on the 'Payments' side of 'Receipts and Payments Account', but is shown as an Expense while preparing 'Income and Expenditure Account'.
Solution:  
Depreciation on fixed assets is never shown in on the ‘payment’ side of Receipts and Payments Account,but it is shown as an expense on the expenditure side while preparing 'Income and Expenditure Account'.
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