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प्रश्न
It contains only revenue items.
विकल्प
Receipts and Payments Account
Income and Expenditure Account
Balance Sheet
None of these
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उत्तर
Income and Expenditure Account
Explanation:
The Income and Expenditure Account contains only revenue items. It records all income and expenses related to the organization's operations for a specific period, excluding capital receipts and payments.
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संबंधित प्रश्न
Income and Expenditure Account is a ______ account.
Income and expenditure contain only ______ items.
______ depicts the Capital fund of the organization.
Give any two uses of Income and Expenditure Account.
______ account is prepared to ascertain surplus or deficit at the end of an accounting year.
It is a summary of all incomes and expenses of the current accounting year. It is prepared to know the surplus or deficit during the accounting year.
It serves as the basis for preparing the Balance Sheet of a non-trading organisation.
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'.
State any one point of difference between Receipt and Payment account and Income and Expenditure Account.
What is Income and Expenditure Account?
