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प्रश्न
Income and expenditure contain only ______ items.
विकल्प
Capital
Capital and Revenue
Revenue
Outstanding
उत्तर
Income and expenditure contain only Revenue items.
Explanation:
Only revenue items are included in the Income and Expenditure Account; capital items are excluded. Both are included in the Receipts and Payment Account.
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संबंधित प्रश्न
State any three points of difference between ‘Receipts and Payment Account’ and ‘Income and Expenditure Account’.
______ depicts the Capital fund of the organization.
Give any two uses of Income and Expenditure Account.
The closing balance of this Account shows surplus or deficit for the year.
This account is equivalent to the Profit and Loss Account of a business concern.
It contains only revenue items.
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 deficit in Income and Expenditure Account.
Mention any two features of the Income and Expenditure Account.
Distinguish between Receipt and Income.
