Balbharati solutions for Book-keeping and Accountancy 12th Standard Hsc Maharashtra State Board.
Chapter 2 – Accounts of ‘Not for Profit’ Concerns [Latest edition]
2. Income and Expenditure Account is a ________ AccountCapital
3. Outstanding subscription at the end of the Accounting Year represents _______
4. Subscription received in advance during the accounting year is_______ .
5. Excess of Income over Expenditure is termed as ___________
6. Not for Profit Concerns prepares _________ account instead of Profit and Loss account to know the result.
Income and Expenditure
Receipt and Payments
7. The closing balance of Receipts and Payments account usually represent _______
Cash and Bank Balance
8. Not for Profit Organization is also called __________ organization.
Expenditure on Purchase of Building is a ________ Expenditure.