Question :
Which of the following show the debit balance of Income and Expenditure Account?
Option 1:
Capital fund
Option 2:
Closing balance cash in hand and bank
Option 3:
Excess of income over expenditure
Option 4: Excess of expenditure over income

Question

Question :

Which of the following show the debit balance of Income and Expenditure Account?

Option 1:

Capital fund

Option 2:

Closing balance cash in hand and bank

Option 3:

Excess of income over expenditure

Option 4: Excess of expenditure over income

Team Careers360 · Accepted Answer

Correct Answer:

Excess of income over expenditure

Solution : Surplus is the balancing figure of Income and Expenditure Account which is having a debit balance. Hence, the correct option is 3.

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Question : Which of the following show the debit balance of Income and Expenditure Account?Option 1: Capital fundOption 2: Closing balance cash in hand and bankOption 3: Excess of income over expenditureOption 4: Excess of expenditure over income

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Question :
Which of the following show the debit balance of Income and Expenditure Account?
Option 1:
Capital fund
Option 2:
Closing balance cash in hand and bank
Option 3:
Excess of income over expenditure
Option 4: Excess of expenditure over income

Question :
An account akin to Profit and Loss Account in

Question :
General donations are treated as:

Question :
Receipts and Payments Account does not include

Question :
Entrance fees of a club, if it is a non-recurring

Question :
Sale of used sports material for Rs.500 by a cricket