Vijay a consultant during the financial year 2018-19 earned rs 400000 out of which he received rs 350000 he incurred an expense of rs 170000 out of which rs 40000 are outstanding he also received consultancy fee relating to previous year rs 45000 and also paid rs 20000 expenses of last year
You are required to determine his income for the year if
He follows cash basis of accounting and
He follows accrual basis of accounting

Dear student


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