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प्रश्न
Explain the term surplus in Income and Expenditure Account.
स्पष्ट कीजिए
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उत्तर
- Surplus in the structure of an Income and Expenditure Account refers to the excess of income over expenditure for a given accounting period.
- A non-trading organization, such as a non-profit or a club, generates more revenue than it spends on operations and activities, resulting in a surplus.
- The surplus is added to the organization's capital fund and represents a positive financial performance over the term.
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अध्याय 6: Financial Accounting and Reporting - QUESTION BANK [पृष्ठ १०८]
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संबंधित प्रश्न
Income and expenditure contain only ______ items.
______ depicts the capital fund of the organization.
______ account is prepared to ascertain surplus or deficit at the end of an accounting year.
How will Income and Expenditure account benefit a non-trading sports organisation?
How is Receipts & Payments Account different from Income & 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.
It contains only revenue items.
Why and by whom is an Income and Expenditure Account prepared?
What is Income and Expenditure Account?
