For a non-trading concern, honorarium paid is: Sol:

Related MCQs

• Payment of honorarium to secretary is treated as : Sol:
• Honorarium is taken to
• Honorarium is
• The amount of goodwill is paid by new partner : Sol:
• Short working is a type of taxes paid by the lessee Sol:
• A few errors committed in Ahhiwalia's books of account are given below. State which errors would affect the Trial Balance. (a) Sales of `950 to Ram completely omitted from books of account (b) Purchases of `720 from Shyam entered in the purchases journal as `700 (c) Purchases Journal is overcast by `1,000 (d) Sales returns journal is undercast by `200 (e) Amount paid to Agarwal wrongly posted to the debit to Mittal's account (f) Bank overdraft shown under debit column in the Trial Balance (g) Sales of `500 to Sadiq entered in sales journal as sales to Mushtaq (h) Wages paid for installation of machinery debited to wages account
• ________ is an expenditure which does not bring any benefit to the concern
• Income and expenditure account is the ______ account of a non trading concern
• Excess of income over expenditure of non trading concern is called _______
• If the Going Concern concept is no longer valid, which of the following is true?