Do incomes and expenses have the same balances?
submitted by Bridget

shiela

No

David

yes

Reshmi

no.

nikki

no think for yourself if your expenses is 50000 and your income is 100000 how will it ever be the same???

QUEEN

Income and expense can't have the same balance.

Mr Tsimaka

No it cant..

Rachael Namutosi

No they can't. However, total assets and total equity & liabilities have the same balances at the end of the fiscal year.