Select the most appropriate answer from the alternatives given below a

1.	Select the most appropriate answer from the alternatives given below and rewrite the sentence.Excess of income over Expenditure is termed as __________.OptionsDeficitProfitSurplusLoss
Answer» Excess of income over expenditure is termed as surplus. Explanation: When income side of the Income and Expenditure Account exceeds its expenditure side, then we have surplus.

Select the most appropriate answer from the alternatives given below and rewrite the sentence.Excess of income over Expenditure is termed as __________.OptionsDeficitProfitSurplusLoss

Answer»

Excess of income over expenditure is termed as surplus.

Explanation: When income side of the Income and Expenditure Account exceeds its expenditure side, then we have surplus.