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What is credit balance of Income and Expenditure Account called? (a) Excess of income over expenditure (b) Excess of expenditure over income

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What is credit balance of Income and Expenditure Account called?

(a) Excess of income over expenditure
(b) Excess of expenditure over income
(c) Net profit
(d) Net loss

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1 Answer

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Correct option is (a) Excess of income over expenditure

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