MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Income and Expenditure Account

Income and ex...

Question

Income and expenditure account shows ___

A

Cash available to an organisation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Surplus or deficit for the current accounting period

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

Closing capital of an organisation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

None of these

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B
Surplus or deficit for the current accounting period

Income and expenditure accounts shows surplus or deficit for the current accounting period.

Suggest Corrections

thumbs-up

1

Similar questions

Q. Income and Expenditure Account of a non-profit organisation is a ________________.

Q. "Income and Expenditure Account of a Not-for-profit Organisation is similar to Profit and Loss Account of a business concern". Explain the statement.

Q. Expenditures greater than incomes while preparing income and expenditure account of a non-profit organisation give rise to the .

Q. Surplus of Income and Expenditure Account is deducted from the capital/general fund.

Q. Income & Expenditure Account is similar to the account prepared for other organisations.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Financial Statements of NPO

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Income and Expenditure Account

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon