What is the nature of Outstanding Expenses?
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Answer Posted / naziya
it is from trading account. that is which was lended or may
be standing out, which was not recovered or yet to collect
from out is called as outstanding expenses. some times by
improper accounting too this may cause . and this
outstanding will be add in the next assessment year when it
was recovered. if not yet received it should be deducted in
profit and loss account .
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