In not-for-profit organisation, excess of expenditure over income is called :
A) Loss
B) Profit
C) Deficit
D) Surplus
Correct Answer:
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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
Q19: Income and Expenditure Account generally indicates:
A)Surplus/ deficit
B)Cash
Q20: Donation received for a special purpose:
A)Should be
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
Q25: Income and expenses related to the prize
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