Maharashtra State BoardHSC Commerce 12th Board Exam
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Excess of Income over Expenditure is termed as ___________. - Book Keeping and Accountancy

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MCQ
Fill in the Blanks

Excess of Income over Expenditure is termed as ___________.

Options

  • Deficit

  • Profit

  • Surplus

  • Loss

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Solution

Excess of Income over Expenditure is termed as Surplus.

Concept: Income and Expenditure Account
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APPEARS IN

Balbharati Book-keeping and Accountancy 12th Standard HSC Maharashtra State Board
Chapter 2 Accounts of ‘Not for Profit’ Concerns
Exercise 2 (Objective Type Questions) | Q 1. A) 6. | Page 112
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