When heavy expenditure is incurred and the benefits of which extend to periods beyond the date of the balance sheet, such expenditure should be equitably spread over the period during which the benefits of such expenditure would be available and are known as ………………….

Related MCQs

• ………………are the expenses paid on account of rent, rates and taxes, insurance premiums, subscriptions membership fee etc. for periods that extent beyond the date of the balance sheet.
• Interest accrued up to the date of balance sheet are known as ………………..
• ……………is a Register, showing the name and address of each member, the date of admission, the shares taken by him and the amount of share capital, if any refunded to him together with the date of each such payment and refund.
• Every society shall maintain ……………….. , containing all vouchers for contingent expenditure incurred by the society, numbered serially and filed chronologically
• In the case of issuing loans, …………………………., showing the number and date of disbursement of each loan issued to members the amount of loan, the purpose for which it is granted and the date or dates of repayment, distinguishing principal and interest
• Every balance sheet of a co-operative society shall give …………………… view of the state of affairs of the society as at the end of the Co-operative year.
• Every society shall maintain ……………….. , showing daily receipts and expenditure, and the balance at the end of each day.
• Expenses incurred but not paid, are called………….
• Every society shall maintain …………………for recording the applications for membership,the number of shares applied for and in case of refusal, the date of communication of the decision refusing admission to the applicant.
• In the case of a society with unlimited liability, property statement of members showing the assets and liabilities of each individual member on the date of his admission with full details of the property including the survey number of the lands, is kept in ………………………..