Final Accounts of a Proprietary Concern — Book Keeping & Accountancy STD 11 Commerce / Arts — Question
Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsBook Keeping & AccountancyFinal Accounts of a Proprietary Concern1 Mark
Question
State the meaning of Outstanding Expenses?
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Answer
The expenses which are incurred in the current year, but not paid partly or fully during the current accounting year are termed as outstanding expenses.
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