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Question
______ depicts the Capital fund of the organization.
Options
Profit and Loss Account
Trading Account
Balance Sheet
Nominal Account
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Solution
Balance Sheet depicts the Capital fund of the organization.
Explanation:
The organization's capital fund is shown on the balance sheet.
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RELATED QUESTIONS
How will Income and Expenditure account benefit a non-trading sports organisation?
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.
Why and by whom is an Income and Expenditure Account prepared?
What is Income and Expenditure Account?
Mention any two features of the Income and Expenditure Account.
Give five differences between Profit and Loss Account and Income and Expenditure Account.
Distinguish between Receipt and Income.
