If income is ₹15,500 and deficit credited in income and expenditure account is ₹3,000. Then expenditure is:-
Answer & explanation
Correct answer: option 1
The correct answer is option 1- ₹18,500.
If there is a income it is credited in income and expenditure account, and a deficit is credited in income and expenditure account. After that both are added and total expenditure will be calculated.
So, total expenditure = 15,500 + 3,000
= 18,500