Income and Expenditure Account generally indicates:
A) Surplus/ deficit
B) Cash balance
C) Capital fund
D) Net profit/Loss
Correct Answer:
Verified
Q14: Capital fund is calculated:
A)Income-Expenditure
B)Assets Liabilities
C)Capital + Liabilities
D)None
Q15: Subscription received in advance during the current
Q16: Balance of Income and Expenditure Account shows:
A)Cash
Q17: Property received as a result of the
Q18: Receipts and Payments Account usually indicates:
A)Surplus
B)Capital fund
C)Debit
Q20: Donation received for a special purpose:
A)Should be
Q21: In not-for-profit organisation, excess of expenditure over
Q22: Which of the following is a non-profitable
Q23: Income and Expenditure Account is preparedly :
A)Trending
Q24: Sale of old newspapers is:
A)Capital Receipt
B)Revenue Receipt
C)Asset
D)Profit
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