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प्रश्न
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'.
विकल्प
Debit, credit
Credit, debit
Credit, credit
Debit, debit
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उत्तर
On the other hand, if the total of debit side is greater than the total of credit side, it is known as 'deficit' or 'excess of expenditure over income'.
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संबंधित प्रश्न
Income and expenditure contain only ______ items.
State any three points of difference between ‘Receipts and Payment Account’ and ‘Income and Expenditure Account’.
______ account is prepared to ascertain surplus or deficit at the end of an accounting year.
How will Income and Expenditure account benefit a non-trading sports organisation?
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.
The closing balance of this Account shows surplus or deficit for the year.
It serves as the basis for preparing the Balance Sheet of a non-trading organisation.
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?
