In case of a Club, the excess of expenditure over income is called as

Related MCQs

• Excess of income over expenditure of non trading concern is called _______
• In not-for-profit organisation, excess of expenditure over income is called : Sol:
• In not-for-profit organisations, excess of expenditure over income is called—
• Match List I (Financial Statements and Accounts) with List II (special matters associated with statements and accounts) and select the correct answer using the codes given below the lists: List I List II i) Receipts and Payments Account I. Revenue ii) Income and Expenditure Account II. Cash iii) Club subscription received in III. Liability Advance Account Codes:(i) (ii) (iii)
• The Income and Expenditure Account includes all revenue expenses and income irrespective of its cash flow Sol:
• From the following information provided, the income from subscription to be shown in the Income and Expenditure A/C for the year ending 31/12/2015 can be calculated at Rs. ______ (i) Subscription received during 2015 : for 2014 – Rs.5,000 for 2015 – Rs.30,000 for 2016 – Rs.6,000 (ii) Subscription received in advance as at 31/12/2014 – Rs.6,000 (iii) Subscription outstanding as at 31/12/2014 – Rs.6,000 (iv) Subscription outstanding as at 31/12/2015 – Rs.4,000
• Income is the output of excess or deficiency of revenue over related:
• Sale of grass in the case of a sports club is
• Sales of grass in the case of a sports club is
• A club paid subscription fees of `1,400. Out of which ` 200 is prepaid. In such case