Question : Income and Expenditure Account gives out :
Option 1: Closing Balance of Cash
Option 2: Opening Balance of cash
Option 3: Net Profit
Option 4: Surplus or Deficit
Correct Answer: Surplus or Deficit
Solution : Income and Expenditure Account reveals the surplus or deficit arising out of the organisation's operations during a particular period of time. Hence, the correct option is 4.
Question : Which of the following is not a type of balance of payments surplus or deficit?
Question : Surplus/Deficit of an NPO is known from the:
Question : In an Income and Expenditure Account, excess of credit implies:
Question : An Income and Expenditure Account reveals:
Question : Salaries paid Rs 4,500 and salaries debited to Income and Expenditure Account is Rs 5,000, where would the difference be transferred?
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