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प्रश्न
It serves as the basis for preparing the Balance Sheet of a non-trading organisation.
पर्याय
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.
______ depicts the Capital fund of the organization.
Give any two uses of Income and Expenditure Account.
If the total of ______ side is greater than the total of ______ side, it is called 'surplus' or 'excess of income over expenditure'.
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 surplus in Income and Expenditure Account.
Why and by whom is an Income and Expenditure Account prepared?
State any one point of difference between Receipt and Payment account and Income and Expenditure Account.
Mention any two features of the Income and Expenditure Account.
Distinguish between Receipt and Income.
