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Expenditures greater than incomes while preparing income and expenditure account of a non-profit organisation give rise to the
Expenditures greater than incomes while preparing income and expenditure account of a non-profit organisation give rise to the
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Solution
The correct option is D deficit
The Income and Expenditure Account is a summary of all items of incomes and expenses which relate to the ongoing accounting year. Expenditures greater than incomes while preparing income and expenditure account of a non-profit organization give rise to the deficit.
The Income and Expenditure Account is a summary of all items of incomes and expenses which relate to the ongoing accounting year. Expenditures greater than incomes while preparing income and expenditure account of a non-profit organization give rise to the deficit.
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