Income and expenditure Account shows a balance of:
A) Cash in in hand
B) Capital Account
C) Net Profit
D) Excess of revenue over expenditure or vice versa.
Correct Answer:
Verified
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
Q67: Receipts and Payments Account usually indicates-
A)Surplus
B)Capital Fund
C)Debit
Q68: In not-for-profit organisations, excess of expenditure over
Q69: The excess of assets over liabilities in
Q70: Subscriptions received in advance by a Club
Q71: Outstanding subscription is a/an
A)Income
B)Asset
C)Liability
D)None of these
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