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Q. In not-for-profit organisation, excess of expenditure over income is called : Sol:

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Q. Which of the following would not appear in a limited company’s surplus/Deficit statement

Q. rights/ Duties of partners are governed by_______________

Q. The existing 1,000 shares of Rs. 100 each are altered to 10,000 shares of Rs.10 each. This is known as__________________

Q. The process of balancing of an account involves equalization of both sides of the account. If the debit side of an account exceeds the credit side, the difference is put on the credit side. The said balance is (i) A Debit balance (ii) A Credit balance (iii) An expenditure or an Asset (iv) An Income or a Liability

Q. Which of the following is not a not-for-profit organisation ? Sol:

Q. The Computerised Accounting System refers to : Sol:

Q. Capital fund is calculated: Sol: