Income and Expenditure account is the same as the -------...
Income and Expenditure account is the same as the --------- of a sole trader
balance sheet
trading account
profit and loss account
cash book
Correct answer is C
The income and expenditure account shows the summary of revenue and running cost of a non-profit making organization. It follows the same principles as the profit and loss account of a trading concern.
The assets of business can be classified broadly into ...
Which of the following item is not treated in the profit and loss account? ...
Four broad classifications of overheads are ...
Offei, a petty trader sold goods for GH¢36,240. The gross profit being 33\(\frac{1}{3}\)% on co...
Given: From the above information, the gross profit from department X is ...
Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNTS \(\be...
Given: Net profit-----------------------N25,000 Cost of sale---------------------N25,000 Sales---...
The expenses incurred in purchasing a vehicle is a ...
Which of the following is not contained in the sales ledger control account? ...