Practicing Success
Select the amount of salary to be shown in the Income and Expenditure Account at the end of the current accounting year of a Not-for-Profit Organisation. The salary paid during the current accounting year is ₹26,000, which includes two months' salary of the previous year and one month salary of the current year is still outstanding. |
₹20,000 ₹22000 ₹24000 ₹26000 |
₹24000 |
26000 salary is of 13 months (11 months of this current year + 2 months of previous year). |