Q. As per accrual concept, which of the followings is not true
A. sales + gross profit = revenue
B. revenue –profit = expenditure
C. revenue –expenditure = profit
D. revenue = profit + expenditure
Answer: sales + gross profit = revenue
A. sales + gross profit = revenue
B. revenue –profit = expenditure
C. revenue –expenditure = profit
D. revenue = profit + expenditure
Answer: sales + gross profit = revenue
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