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Financial Statements – With Adjustments — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountFinancial Statements – With Adjustments1 Mark
Question
What is the need for providing accrued incomes in final accounts?
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Answer

These are provided as per the accrual concept of accounting according to which all incomes earned during the year should be recognised, whether received or not.

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