If the sinking fund is non-cumulative, the interest received on Sinking Fund Investment .........

CS Executive · Corporate and Management Accounting · PYQS · June 2023
If the sinking fund is non-cumulative, the interest received on Sinking Fund Investment .........
(A) Credited to Sinking Fund A/c
(B) Credited to the Profit & Loss A/c
(C) Credited to General Reserve
(D) Credited to Sinking Fund Investment A/c

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Corporate Accounting

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