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प्रश्न
______ account is prepared to ascertain surplus or deficit at the end of an accounting year.
पर्याय
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.
APPEARS IN
संबंधित प्रश्न
Justify either for or against by giving a reason for the following statement. ‘Income and Expenditure account shows the opening and closing balances of cash in hand and cash at bank.’
______ depicts the Capital fund of the organization.
Give any two uses of Income and Expenditure Account.
The closing balance of this account shows surplus/deficit ______.
How is Receipts & Payments Account different from Income & Expenditure Account?
Explain the term surplus in Income and Expenditure Account.
Why and by whom is an Income and Expenditure Account prepared?
State any one point of difference between Receipt and Payment account and Income and Expenditure Account.
Mention any two features of the Income and Expenditure Account.
Distinguish between Receipt and Income.
