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प्रश्न
Income and expenditure contain only ______ items.
विकल्प
Capital
Capital and Revenue
Revenue
Outstanding
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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
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.’
State any three points of difference between ‘Receipts and Payment Account’ and ‘Income and Expenditure Account’.
______ depicts the Capital fund of the organization.
The closing balance of this account shows surplus/deficit ______.
If the total of ______ side is greater than the total of ______ side, it is called 'surplus' or 'excess of income over expenditure'.
On the other hand, if the total of ______ side is greater than the total of ______ side, it is known as 'deficit' or 'excess of expenditure over income'.
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.
What is Income and Expenditure Account?
Mention any two features of the Income and Expenditure Account.
