Preparation of income and expenditure account - class-XII
Description: Preparation of income and expenditure account | |
Number of Questions: 15 | |
Created by: Avatara Chahal | |
Tags: accountancy elements of accounts book keeping and accountancy accounting for not-for-profit organization accounts of non-trading concerns accounting for not-for-profit organizations financial statements of not-for-profit organisations accounts of not-for-profit organisation accounts of 'not for profit' concerns accounting for non trading organisations and professional persons accounts of non-trading organisations |
Income and Expenditure account is ______ to account like Profit and Loss account.
In Income and Expenditure account all Expenditure are recorded on ______________.
Any revenue expense for which a separate fund is available will be ___________.
Non-trading institutions prepare ___________.
The revenue receipts are to be shown on ______side.
Income and Expenditure Account belongs to ______ account.
Income and Expenditure accounts shows a balance of ________________.
Income and Expenditure account is ________ by balance sheet whereas Receipt and Payment account is __________by balance sheet
The balance of Income and Expenditure account represents:
Income & Expenditure A/c is prepared by transfer of :
(I) Nominal accounts
(II) Real accounts
(III) Personal accounts
The correct answer is ___________________.
Specific donations received will appear on ____________.
Rs. 1,00,000 received as the annual membership subscription. Out of this Rs. 20,000 is pertaining to the previous accounting period, whereas Rs. 10,000 is receivable at the end of the current accounting period. Calculate the amount of subscription that will be shown in the income and expenditure account for this accounting year.
Given : Stock of stationery on Jan. 1, 2015 Rs 200; payments for stationery during 2015 Rs 1,000; and stock of stationery on Dec. 31, 2015 Rs 50.
What will be the amount posted to Income and Expenditure A/c for the year ending Dec. 31, 2015?
Income and Expenditure Account records income and expenditure item of ____________________.
The income and expenditure account is prepared on the basis of __________ system of accounting.