Question

surplus of income over expenses is ?​

Answer 1

Explanation:

Surplus is the excess of income over expenditure. A credit balance in the Income and expenditure account shows surplus. It is the profit earned and should be added to the capital fund on the liabilities side of the balance sheet.

Answer 2

Answer:

Surplus of income over expenses is called net profit without deducting depreciation and expenses the total profit called gross profit.