Expenses are paid before it is due.
Write one word/term or phrase which can substitute each of the following statements :
(i) Expenses are paid before it is due.
(ii) Income due but not yet received.
(iii) Carriage paid on the sale of goods.
(iv) Statement of Assets & Liabilities.
(v) Account prepared to know Net Profit or Net Loss.
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(i) Prepaid Expenses
(ii) Accrued Income
(iii) Carriage Outward
(iv) Balance Sheet
(v) Profit & Loss Account
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