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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.
The closing balance of this account shows surplus/deficit ______.
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 contains only revenue items.
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.
Give five differences between Profit and Loss Account and Income and Expenditure Account.
Distinguish between Receipt and Income.
