In the financial year 2017-18, A …
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In the financial year 2017-18, A man earned a total revenue of `6,90,000,
out of which `4,70,000 was received in cash. The total expense paid by
him were `4,40,000, out of which `20,000 pertained to 2018-19 and
expenses of `30,000 are still outstanding. Determine Aman's income for
the year 2017-18 as per :
(i) Cash basis of accounting
(ii) Accrual basis of accounting
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