How would you treat Table Tennis match expenses of 40,000 (assuming that no other information is given):
This question was previously asked in
Shift 02/06/2023 3:30 PM - 6:30 PM
A
Shown in liability side of Balance Sheet
B
Debited to Income and Expenditure amount
C
Shown on asset side of Balance Sheet
D
Credited to Income and Expenditure A/c
Correct Answer
Debited to Income and Expenditure amount
Detailed Explanation
Expenses related to a Table Tennis match, like any other sports or recreational expenses, are typically treated as a part of the Income and Expenditure Account. Therefore, the correct option is:
- Debited to Income and Expenditure Account
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