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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'.
पर्याय
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
Give any two uses of Income and Expenditure Account.
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.
Explain the term surplus in Income and Expenditure Account.
Explain the term deficit in Income and Expenditure Account.
Why and by whom is an Income and Expenditure Account prepared?
All donations received by non-trading concerns are entered in the liabilities side of the balance sheet. Justify either for or against.
What is Income and Expenditure Account?
Give five differences between Profit and Loss Account and Income and Expenditure Account.
Distinguish between Receipt and Income.
