Fill in the blanks.i. An Income and Expenditure Account and a Balance

1.	Fill in the blanks.i. An Income and Expenditure Account and a Balance Sheet are prepared as final account by a _________ii. _________ is a major source of revenue income for ‘Not for Profit’ concern.iii. Non-cash items are not recorded in __________iv. __________ concerns have profit motive.v. In a Trading concerns ______________ is prepared to know the financial position of the business.
Answer» i. ‘Not for Profit’ concern ii. Subscription iii. Receipts and Payments Account iv. Trading v. Balance Sheet

Fill in the blanks.i. An Income and Expenditure Account and a Balance Sheet are prepared as final account by a _____ii. _ is a major source of revenue income for ‘Not for Profit’ concern.iii. Non-cash items are not recorded in iv. concerns have profit motive.v. In a Trading concerns __________ is prepared to know the financial position of the business.

Answer»

i. ‘Not for Profit’ concern

ii. Subscription

iii. Receipts and Payments Account

iv. Trading

v. Balance Sheet