Advertisement Remove all ads

Give Word / Term Or Phrase for the Following Statement. - Book Keeping and Accountancy

One Word Answer

Give word / term or phrase for the following statement.

Excess of income over expenditure of a ‘not for profit’ concern.

Advertisement Remove all ads

Solution

Surplus

The surplus is the excess of income over expenditure. A credit balance in the Income and expenditure account shows a surplus. 

Concept: Not for Profit Concerns
  Is there an error in this question or solution?
Advertisement Remove all ads
Advertisement Remove all ads
Advertisement Remove all ads
Share
Notifications

View all notifications


      Forgot password?
View in app×