Who prepare income and expenditure account and for what?
- 9 Answers
- 28822 Views
- Scope International, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / a.madhu sudhan rao
Income & Expenditure account prepared by the Non Profit
Organisations like Hospitals, Schools , Colleges , Trusts ,
SOcieties
This Organisations prepare Receipts & Payments and Income
and Expenditure because their main objective is Services to
People not for Profit
| Is This Answer Correct ? | 89 Yes | 8 No |
Answer / karthik
Income and expenditure a/c is prepared by a Non-Profit-
organisation to know how much they spends and earns for the
particualar year of p'cular organisation.
ex: Hopitals, Schools, colleges.cetc
| Is This Answer Correct ? | 32 Yes | 3 No |
Answer / b.narasimha rao
INCOME AND EXPENDITURE ACCOUNTS PREPARED BY THE ACCOUNTANT.
TO KNOW THE HOW MUCH INCOME EARNED BY THE COMPANY DURING
THE ACCOUNTING PERIOD. THIS ACCOUNT USE FOR PLAN THE INCOME
IS INCREASE AND EXPENSES ARE DECREASE
| Is This Answer Correct ? | 26 Yes | 16 No |
Answer / nalini reddy
1)"income is the sum of all the wages, salaries, profits,
interests payments, rents and other forms of earnings
received... in a given period of time.'' For firms, income
generally refers to net-profit: what remains of revenue
after expenses have been subtracted.
2)Capital expenditures (CAPEX or capex) are expenditures
creating future benefits. A capital expenditure is incurred
when a business spends money either to buy fixed assets or
to add to the value of an existing fixed asset with a
useful life that extends beyond the taxable year.
And prepared by Accounts department.
| Is This Answer Correct ? | 13 Yes | 4 No |
Answer / birendra kr tiwari
income and expenditre accouts is prepared by not-profit organisation becuse they work for social servies
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / manipriya
income and expenditure account is prepared by adopting accrual principle of accounting..
| Is This Answer Correct ? | 0 Yes | 1 No |
expand I R D A
what is suspence capital?
what is the journal entry for credit sale and credit purchase?
24 Answers Accenture, Cap Gemini, Consero Global, Fauji Fertilizer, Genpact, HP, IBM, Insurance, OPG, Vibro, Xerox,
expand E S I
what is cap & floor of call rates?
What do you mean by Mutual Funds ? Types
5 Answers BNP Paribas, Capital IQ,
What is Deposit Clearing House ?
how to calculate BEP in this problem? Sales Rs.3,00,000 Fixed Exp. Rs. 75,000 Direct Material.Rs.1,00,000 Direct Labour Rs.60,000 Direct exp. RSs.40,000
why share capital shown in liability side of a balance sheet
Why should we prepare profit
30 Answers Accenture, Maharaja Whiteline,
what is portfolio management?
7 Answers Cap Gemini, Capital IQ, Genpact,
Take me through the entire vendor cycle.
Audit 
