Income and Expenditure A/c is a
A) Nominal A/c
B) Real A/c
C) Personal A/c
D) None of the above
Correct Answer:
Verified
Q56: Non-trading organization prepares
A)Income and Expenditure A/c
B)Trading and
Q57: Receipts and Payment A/c is a summary
Q58: Subscription received in advance by a club
Q59: Donations received for a special purpose are
A)Asset
B)Revenue
Q60: Receipts and Payment A/c is a
A)Nominal A/c
B)Real
Q62: Income and Expenditure A/c reveals
A)Cash in hand
B)Surplus
Q63: Small amount of entrance fee is considered
Q64: Sale of old newspapers is-
A)Capital Receipt
B)Revenue Receipt
C)Asset
D)Profit
Q65: Income and Expenditure Account records-
A)Capital items
B)Revenue items
C)A
Q66: Entrance fee, unless otherwise stated, is treated
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