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प्रश्न
It serves as the basis for preparing the Balance Sheet of a non-trading organisation.
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 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.
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.’
______ depicts the Capital fund of the organization.
Give any two uses of Income and Expenditure Account.
The closing balance of this Account shows surplus or deficit for the year.
Explain the term surplus in Income and Expenditure Account.
Explain the term deficit 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?
Distinguish between Receipt and Income.
