Multiple Choice
Income and Expenditure A/c reveals
A) Cash in hand
B) Surplus or deficiency
C) Capital A/c
D) Profit or Loss
Correct Answer:

Verified
Correct Answer:
Verified
Q44: Non-trading organization prepares<br>A)Income and Expenditure A/c<br>B)Trading and
Q45: Credit purchase is determined by preparing<br>A)Purchase Account<br>B)Debtor's
Q46: Outstanding subscription is a/an<br>A)Income<br>B)Asset<br>C)Liability<br>D)None of these
Q47: Credit sales can be ascertained by preparing<br>A)Creditors
Q48: Under single entry system details of<br>A)Expenses will
Q50: Under single entry system, certain transactions are
Q51: Out of the following items, which one
Q52: The minimum share application money is<br>A)Rs.5 per
Q53: The content of single entry system is<br>A)Double
Q54: When closing capital is more than opening