The excess revenue over expenditure is charged to
...The excess revenue over expenditure is charged to
Profit and loss
Revenue account
Accumulated fund
Income and expenditure acccount
Correct answer is C
An accumulated fund is the capital fund of a nonprofit organization. Money is directed into the accumulated fund when revenues are greater than expenditures and there is a budgetary surplus.
Which of the following is a real account item? ...
Opening stock Purchases Sales Closing Stocks ₦ 20,000 70,...
CR. DR. Sales ledger balance 9, 500 Sales ledger balance 420 Bought ledgers balance 6, 115&...
Which of the following items is not contained in the Receipts and Payments Account? ...
Use the following information to answer the given question \(\begin{array}{c|c} & DR & CR...