The loss made by a non profit making organization is call...
The loss made by a non profit making organization is called
Deficit
Surplus
Discount
Shortage
Correct answer is A
A deficit occurs for a nonprofit organization whenever its expenses exceed its revenue . deficit in a non for profit making organization stands for loss and it is the excess of expenses over bar profit and other income.
Motor Vehicle Account as at 31st December 2001. Debit: Jan. 1, cost ................N1950 000 Dec...
A statement that measures the performance of a business over a period of time is the ...
Given: Sales ............................N195,200 Stock 1st January.................N34,000 Purch...
Which of the following is a credit item on an income and expenditure account? ...
Cash stolen from branch-taking s is recorded in the Head Office books by debiting ...
\(\begin{array}{c|c} & D \\ \hline \text{Cash in hand}& 1,440\\ \text{Cash at bank} & 24...
When partners maintain fixed capital accounts, the correct entries for a partner's share of prof...
The estimated profit or loss for a period is calculated by ...
Use the following to answer the given question \(\begin{array}{c|c} & N \\ \hline sales &am...
Dangote acquired Dantata’s business for N350,000. The total asset work were N820,000 and liabi...