Question

expenses and incomes of ______nature shown in the trading account​

Answer 1

Explanation:

The role of a non-trading firm is to provide services to its members. However, in order to do the same, it needs to earn some revenue and incur certain expenditures. When a non-profit firm does so, it needs to prepare an income and expenditure account, which can help it in ascertaining the surplus earned or deficiency incurred during a period. Let us understand more about the income and expenditure account which is prepared by a non-profit organization.

Answer 2

Explanation:

expenses and incomes of ______nature shown in the trading account..

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