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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.
Income and expenditure contain only ______ items.
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.
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 deficit in Income and Expenditure Account.
What is Income and Expenditure Account?
Give five differences between Profit and Loss Account and Income and Expenditure Account.
