Home
Class 12
ACCOUNTS
State with reasons whether the following...

State with reasons whether the following statements are TRUE or FALSE:
The balancing figure on credit side of Income and Expenditure Account denotes excess of expenses over incomes.

Text Solution

Verified by Experts

TRUE
Promotional Banner

Topper's Solved these Questions

  • ACCOUNTING FOR PARTNERSHIP : BASIC CONCEPTS

    NCERT|Exercise Numerical Questions|45 Videos

Similar Questions

Explore conceptually related problems

From the following information prepare Income and Expenditure Account:

State with reason whether the following statement , Every square is a rhombus is true or false.

State whether the following statements are true or false Air is transparent

State whether the following statements are true or false : Fish has lungs for breathing.

State whether the following statements are true or false: Explosion is a chemical change.

State whether the following statements are true or false: The moon is a luminous objcct.

State whether the following statements are True or False : All prime numbers are odd.

NCERT-ACCOUNTING FOR NOT-FOT PROFIT ORGANISATION-All Questions
  1. From the following Receipt and Payment Account prepare final accounts ...

    Text Solution

    |

  2. Following is the information in respect of certain items of a Sports C...

    Text Solution

    |

  3. Receipt and Payment Account of Maitrey Sports Club showed that Rs. 68,...

    Text Solution

    |

  4. Following is the Receipt and Payment account of Rohatgi Trust : Rece...

    Text Solution

    |

  5. Following Receipt and Payment Account was prepared from the cash book ...

    Text Solution

    |

  6. From the following Receipt and Payment Account of a club, prepare Inco...

    Text Solution

    |

  7. As at March 31, 2015 the following balances have been extrated from th...

    Text Solution

    |

  8. As per Receipt and Payment Account for the year ended on March 31, 201...

    Text Solution

    |

  9. State with reasons whether the following statements are TRUE or FALSE:...

    Text Solution

    |

  10. State with reasons whether the following statements are TRUE or FALSE:...

    Text Solution

    |

  11. State with reasons whether the following statements are TRUE or FALSE:...

    Text Solution

    |

  12. State with reasons whether the following statements are TRUE or FALSE:...

    Text Solution

    |

  13. State with reasons whether the following statements are TRUE or FALSE:...

    Text Solution

    |

  14. State with reasons whether the following statements are TRUE or FALSE:...

    Text Solution

    |

  15. State with reasons whether the following statements are TRUE or FALSE:...

    Text Solution

    |

  16. State with reasons whether the following statements are TRUE or FALSE:...

    Text Solution

    |

  17. State with reasons whether the following statements are TRUE or FALSE:...

    Text Solution

    |

  18. How would you treat the following items in the case of a ‘not-for-prof...

    Text Solution

    |

  19. How would you treat the following items in the case of a ‘not-for-prof...

    Text Solution

    |

  20. Receipt and Payment Account of Maitrey Sports Club showed that Rs. 68,...

    Text Solution

    |