All the income has_________.
Recurring nature
Non recurring nature
Both the above
None of the above
__________ gives a clear picture of the financial position of the concern.
Trading account
Profit and loss account
Balance sheet
Receipts and payments account
____________ is records all receipts and payments relating to previous, current and subsequent years.
Income and expenditure account
Receipts and payment account
___________ is usually prepared annually.
None of these
Special donation is
Revenue income
Capital fund
Capital expenditure
___________ is a list of all account balances.
Trail balance
Financial statement
___________ is prepared with the balances of real and personal accounts only.
The final balance in ____________ represents the balance of cash in hand or at the bank or overdraft.
A ___________ is a statement prepared to ascertain the true position of assets and liabilities as on a particular date.
__________ is debited with all items of receipts and credited with all payments.
