Maharashtra State BoardHSC Commerce 12th Board Exam
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Give Word / Term Or Phrase for the Following Statement. - Book Keeping and Accountancy

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One Word Answer

Give word / term or phrase for the following statement.

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

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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
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