Question : When the tournament expenses incurred are more than the tournament fund, then the excess amount is :
Option 1: Credited to tournament fund
Option 2: Debit side of Income and Expenditure Account
Option 3: credit side of Income and Expenditure A/c
Option 4: Assets side of Balance sheet

Question

Question : When the tournament expenses incurred are more than the tournament fund, then the excess amount is :

Option 1: Credited to tournament fund

Option 2: Debit side of Income and Expenditure Account

Option 3: credit side of Income and Expenditure A/c

Option 4: Assets side of Balance sheet

Team Careers360 · Accepted Answer

Correct Answer: Debit side of Income and Expenditure Account

Solution : When the tournament expenses incurred are more than the tournament fund, then the excess amount is the Debit side of the Income and Expenditure Account. Hence, the correct option is 2.

Exams

Colleges

Predictors

Resources

Quick links

B.Tech CompanionUse Now Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

Exams

Colleges & Courses

Predictors

Resources

Exams

Colleges

Predictors & E-Books

Resources

Engineering Preparation

Medical Preparation

Online Courses

Products

Exams

Colleges

Resources

Exams

Colleges

Predictors & Articles

Resources

Exams

Colleges

Predictors

Resources

NEET CompanionUse NowYour one-stop Counselling package for NEET, AIIMS and JIPMER

Exams

Colleges

Upcoming Events

Resources

Exams

Colleges

Resources

Quick Links

Top Streams

Specializations

Resources

Top Providers

Exams

Colleges

Resources

Diploma Colleges

Exams

Colleges

Resources

Exams

Resources

Top Courses & Careers

Colleges

Exams

Upcoming Events

Resources

Other Exams

Exams

Colleges

Top Countries

Student Visas

Exams

Top Schools

Products & Resources

NCERT Study Material

Question : When the tournament expenses incurred are more than the tournament fund, then the excess amount is :Option 1: Credited to tournament fund Option 2: Debit side of Income and Expenditure Account Option 3: credit side of Income and Expenditure A/cOption 4: Assets side of Balance sheet

Related Questions

Question : If there is a tournament Fund, then Match Expenses are transferred to

Question : If there is a tournament Fund, then Match Expenses are transferred to

Question : Specific Donation received by NPO are shown in the:

Question : If there is a Match Fund then Match expenses and Income are transferred to

Question : Tournament Fund Rs. 2,00,000; Tournament Expenses Rs. 60,000; Receipts from Tournament Rs. 80,000. How are the following items shown in the financial statements of Not-for-Profit Organizations?

Trending Articles/News

Sign In/Sign Up

Download the Careers360 App on your Android phone

B.Tech CompanionUse Now
Your one-stop Counselling package for JEE Main, JEE Advanced and BITSAT

NEET CompanionUse Now
Your one-stop Counselling package for NEET, AIIMS and JIPMER

Question : When the tournament expenses incurred are more than the tournament fund, then the excess amount is :
Option 1: Credited to tournament fund
Option 2: Debit side of Income and Expenditure Account
Option 3: credit side of Income and Expenditure A/c
Option 4: Assets side of Balance sheet

Question : Tournament Fund Rs. 2,00,000; Tournament Expenses Rs. 60,000; Receipts from Tournament Rs. 80,000.
How are the following items shown in the financial statements of Not-for-Profit Organizations?