Multiple Choice
The excess of assets over liabilities in non-trading concerns is treated as-
A) Capital Fund
B) Capital
C) Profit
D) Net Profit
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q1: Donations received for a special purpose will
Q2: Profit under the net worth method, when
Q3: If opening capital is Rs.5,000. closing capital
Q4: If the opening capital is Rs.20,000 and
Q6: Small amount of entrance fee is considered
Q7: Entrance fee, unless otherwise stated, is treated
Q8: Subscription received in advance by a club
Q9: Receipts and Payment A/c is a<br>A)Nominal A/c<br>B)Real
Q10: Subscription received in advance is<br>A)An income<br>B)An asset<br>C)Liability<br>D)None
Q11: The receipts and Payments account records receipts