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प्रश्न
______ account is prepared to ascertain surplus or deficit at the end of an accounting year.
विकल्प
Income and Expenditure
Balance sheet
Profit and Loss
Receipts and Payment
उत्तर
Income and Expenditure account is prepared to ascertain surplus or deficit at the end of an accounting year.
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संबंधित प्रश्न
Income and Expenditure Account is a ______ account.
Income and expenditure contain only ______ items.
Give any two uses of Income and Expenditure Account.
Explain any two features of Income and Expenditure account.
This account is equivalent to the Profit and Loss Account of a business concern.
It serves as the basis for preparing the Balance Sheet of a non-trading organisation.
If the total of ______ side is greater than the total of ______ side, it is called 'surplus' or 'excess of income over expenditure'.
Explain the term surplus in Income and Expenditure Account.
Explain the term deficit in Income and Expenditure Account.
Distinguish between Receipt and Income.
