Identify the term that indicate excess of Expenditure over Income, in case of a Not-for-profit Organisation. Option 1: Payment Option 2: Expenditure Option 3: Deficit Option 4: Loss

The answer is 'Deficit'. View full solution:

CUET Accountancy - Identify the term that indicate excess of Expenditure over Income, in case of a Not-for-profit Organisation. | PYQs + Solutions

CUET Accountancy 2023 29 May Shift 2

Financial Statements

Easy

Payment

Expenditure

Deficit

Loss

✅ Correct Option: 3

Related questions:

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Goods costing Rs.80,000/- were sold at a profit of 20% on sales. the amount of gross profit on this sales is.

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Calculate prize fund expenses incurred during the year 2021-22 from the following information

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13 May Shift 2

Arrange As Appear in Balance sheet as prescribed in part I of schedule III of the Companies act 2013-

(A) Non-current liabilities

(B) Current liabilities

(D) Shareholders fund

Choose the correct answer from the options given below: