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प्रश्न
It serves as the basis for preparing the Balance Sheet of a non-trading organisation.
पर्याय
Receipts and Payments Account
Income and Expenditure Account
Balance Sheet
None of these
उत्तर
Income and Expenditure Account
Explanation:
The Income and Expenditure Account serves as the basis for preparing a non-trading organization's balance sheet. The surplus or deficit derived from the Income and Expenditure Account is added to or subtracted in the Balance Sheet.
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संबंधित प्रश्न
Income and Expenditure Account is a ______ account.
______ depicts the Capital fund of the organization.
The closing balance of this account shows surplus/deficit ______.
How will Income and Expenditure account benefit a non-trading sports organisation?
How is Receipts & Payments Account different from Income & 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.
Explain the term surplus in Income and Expenditure Account.
State any one point of difference between Receipt and Payment account and Income and Expenditure Account.
Distinguish between Receipt and Income.
