Question

(i) Receipts and payments Account is _________ of the year 's _________.
(ii) In the Receipts and Payment Account, receipts are shown on the _________ side.
(iii) Credit balance in the income and Expenditure Account means excess of __________over _____________.
(iv) Income and Expenditure Account shown all ________ receipts and _________ payments for an acccounting year.
(v) Subscriptions received in advance by a club are shown on the ____________ side of the Balance Sheet.
(vi) Life Membership Fess received by a club is shown in the _________.
(vii) Excess of expenditure over income is ___________ Capital Fund in the Balance Sheet.
(viii) Income and Expenditure Account is prepared by _________ concerns.
(ix) Match Fund of Rs. 1,000 appears in the books . Match expenses for a year amount to Rs. 1,200. ______________ will be debited to the Income and Expenditure Account.
(x) If expenditure is Rs. 16,000 and surplus credited to Capital Fund Rs. 4,500, income , is _____________.

Answer 1

Answer:

I) a summorized cash book, financial year