Which of the following should not be recorded in the income and expenditure account?
A. Sale of old news papers
B. Loss on sale of asset
C. Honorarium paid to the secretary
D. Sale proceeds of furniture
Answer:D
Which of the following should not be recorded in the income and expenditure account?
A. Sale of old news papers B. Loss on sale of asset C. Honorarium paid to the secretary D. Sale proceeds of furniture