InterviewSolution
Saved Bookmarks
| 1. |
Interest On Deposit Is Not In Income And Expenditure Account What Is The Reason For That? |
|
Answer» The role of a non-trading firm is to provide services to its members. HOWEVER, in order to do the same, it needs to EARN some revenue and incur certain expenditures. When a non-profit firm does so, it needs to prepare an income and expenditure account, which can help it in ascertaining the surplus EARNED or deficiency INCURRED during a period. Let us UNDERSTAND more about the income and expenditure account which is prepared by a non-profit organization. |
|