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Which of the following options given below are correct?
A. A balancing figure on credit side of Income and Expenditure Account denotes excess of
expenses over incomes.
B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.
C. Receipts and Payments Account is equivalent to Profit and Loss Account.
D. Receipts and Payments Account records the receipts and payments of revenue nature only
E. Receipts and Payments Account does not differentiate between capital and revenue receipts
expenses over incomes.
B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.
C. Receipts and Payments Account is equivalent to Profit and Loss Account.
D. Receipts and Payments Account records the receipts and payments of revenue nature only
E. Receipts and Payments Account does not differentiate between capital and revenue receipts
Choose the correct answer from the options givenbelow:
- a)A, E only
- b)A, B, C, E only
- c)A, B, C, D only
- d)B, C, D only
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
Which of the following options given below are correct?A. A balancing ...
Explanation:
A. A balancing figure on credit side of Income and Expenditure Account denotes excess of expenses over incomes.
- This statement is correct. A balancing figure on the credit side of the Income and Expenditure Account indicates that expenses exceed incomes for the period.
E. Receipts and Payments Account does not differentiate between capital and revenue receipts
- This statement is correct. The Receipts and Payments Account records all cash receipts and payments without differentiating between capital and revenue receipts. It provides a summary of actual cash transactions without considering the nature of the transactions.
Therefore, the correct answer is option 'A' - A, E only.
A. A balancing figure on credit side of Income and Expenditure Account denotes excess of expenses over incomes.
- This statement is correct. A balancing figure on the credit side of the Income and Expenditure Account indicates that expenses exceed incomes for the period.
E. Receipts and Payments Account does not differentiate between capital and revenue receipts
- This statement is correct. The Receipts and Payments Account records all cash receipts and payments without differentiating between capital and revenue receipts. It provides a summary of actual cash transactions without considering the nature of the transactions.
Therefore, the correct answer is option 'A' - A, E only.
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Which of the following options given below are correct?A. A balancing ...
Only (A) and (E) are correct
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Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer?
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Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer? for Humanities/Arts 2025 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer?.
Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer? for Humanities/Arts 2025 is part of Humanities/Arts preparation. The Question and answers have been prepared according to the Humanities/Arts exam syllabus. Information about Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Humanities/Arts 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer?.
Solutions for Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Humanities/Arts.
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Here you can find the meaning of Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer?, a detailed solution for Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer? has been provided alongside types of Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Which of the following options given below are correct?A. A balancing figure on credit side of Income and Expenditure Account denotes excess ofexpenses over incomes.B. Surplus of Income and Expenditure Account is deducted from the Capital/General Fund.C. Receipts and Payments Account is equivalent to Profit and Loss Account.D. Receipts and Payments Account records the receipts and payments of revenue nature onlyE. Receipts and Payments Account does not differentiate between capital and revenue receiptsChoose the correct answer from the options givenbelow:a)A, E onlyb)A, B, C, E onlyc)A, B, C, D onlyd)B, C, D onlyCorrect answer is option 'A'. Can you explain this answer? tests, examples and also practice Humanities/Arts tests.
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