Answer in one sentence only: Give two examples of income and gains. - Book Keeping and Accountancy

One Line Answer

Answer in one sentence only:

Give two examples of income and gains.

Examples of income and gains are:

(1) Discount received,
(2) Rent received,
(3) Profit on sale of furniture.

Concept: Classification of Accounts (Modern Approach)

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Chapter 2: Meaning and Fundamentals of Double Entry Book-Keeping - Exercises [Page 38]

Chapter 2 Meaning and Fundamentals of Double Entry Book-Keeping
Exercises | Q 1. 8) | Page 38

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