What does the sentence No part of the net income of which inures to the benefit of

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What does the sentence "No part of the net income of which inures to the benefit of any private individual" mean?

P.S. This is for the deductions of Gross Income

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Managerial accounting

ISBN: 978-0471467854

1st edition

Authors: ramji balakrishnan, k. s i varamakrishnan, Geoffrey b. sprin

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Posted Date: Mar 20, 2022 01:39 AM

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What does the sentence No part of the net income of which inures to the benefit of

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It means no part of the net earnings of an organization may be incurred and spent to ... View the full answer

Managerial accounting

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