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प्रश्न
______ depicts the capital fund of the organization.
विकल्प
Profit and Loss Account
Trading Account
Balance Sheet
Nominal Account
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उत्तर
Balance Sheet depicts the capital fund of the organization.
Explanation:
The balance sheet is a financial position statement that clearly illustrates an organization’s capital fund (or general fund) on the liabilities side. It provides a financial snapshot of cumulative surpluses, life membership fees, and capital receipts over time, whereas the other alternatives are income statements or account classifications that only track operating revenue or expenses.
संबंधित प्रश्न
Income and Expenditure Account is a ______ account.
Income and expenditure contain only ______ items.
State any three points of difference between ‘Receipts and Payment Account’ and ‘Income and Expenditure Account’.
Give any two uses of Income and Expenditure Account.
Explain any two features of Income and Expenditure account.
______ account is prepared to ascertain surplus or deficit at the end of an accounting year.
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.
It contains only revenue items.
All donations received by non-trading concerns are entered in the liabilities side of the balance sheet. Justify either for or against.
