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प्रश्न
If the total of ______ side is greater than the total of ______ side, it is called ‘surplus’ or ‘excess of income over expenditure’.
पर्याय
Debit, credit
Credit, debit
Credit, credit
Debit, debit
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उत्तर
If the total of credit side is greater than the total of debit side, it is called ‘surplus’ or ‘excess of income over expenditure’.
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संबंधित प्रश्न
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.’
State any three points of difference between ‘Receipts and Payment Account’ and ‘Income and Expenditure Account’.
Explain any two features of Income and Expenditure account.
How is Receipts & Payments Account different from Income & Expenditure Account?
The closing balance of this Account shows surplus or deficit for the year.
This account is equivalent to the Profit and Loss Account of a business concern.
It serves as the basis for preparing the Balance Sheet of a non-trading organisation.
It contains only revenue items.
Explain the term deficit in Income and Expenditure Account.
What is Income and Expenditure Account?
