Honorarium is ______________.
Capital expenditure
An expenditure from specified receipt
Revenue expenditure
None of the above
___________ are established for the purpose of rendering service.
Non Profit organisation
Company
Partnership
None of these
___________ is prepared with the balances of real and personal accounts only.
Profit and loss account
Income and expenditure account
Receipts and payments account
Balance sheet
___________ is simply the summary of income and expenditure for the accounting period.
Trading account
__________ is debited with all items of receipts and credited with all payments.
A man profit organisation prepares __________ statements at the end of the accounting year, which form its final accounts.
Two
Three
Four
Five
The surplus or deficit is transferred to __________.
Capital fund
Cash account
Ledger account
Entrance fee is
Capital receipt
Revenue receipt
Part of capital fund
Receipt and payment account is begin with
Opening cash only
Opening bank balance only
Opening cash and bank or overdraft
__________ gives a clear picture of the financial position of the concern.
