non profit organization

Expenditure on purchase of Building is a ——- expenditure

Q-1 The Receipt and Payment account of a Non- Profit Organisation is a

Donation fr scholarship fund is ———-

(a)  

Subscription received in advance during the accounting Year is ————

The closing balance off receipt and payment account usually represents ———

Excess of income over expenditure is termed as ———-

Receipt and payment account falls under the category of ————- transactions are recorded

(a)  

Charitable institutions prepare profit and loss account at the end of every financial year

Income and expenditure account represents either surplus or deficit

Receipt and payment account do not have any opening balance