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प्रश्न
Write one Word / Term / Phrase for the following statement.
Excess of income over expenditure.
एक शब्द/वाक्यांश उत्तर
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उत्तर
Surplus
Explanation: Income and Expenditure Account is prepared to ascertain the results of activities of a not-for-profit organisation. When the income side exceeds the expenditure side, we have surplus. However, in case of profit-seeking entities, it is termed as profit (ascertained from Profit and Loss Account).
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