Write one Word / Term / Phrase for the following statement.Excess of e

1.	Write one Word / Term / Phrase for the following statement.Excess of expenditure over income
Answer» Deficit Explanation: When the expenditure side of the Income and Expenditure Account exceeds its income side, we have deficit. In case of profit seeking entities, it is termed as loss (ascertained from Profit and Loss Account).

Write one Word / Term / Phrase for the following statement.Excess of expenditure over income

Answer»

Deficit

Explanation: When the expenditure side of the Income and Expenditure Account exceeds its income side, we have deficit. In case of profit seeking entities, it is termed as loss (ascertained from Profit and Loss Account).

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Write one Word / Term / Phrase for the following statement.Excess of expenditure over income

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