Question

The final balancing amount of income and Expenditure Account, represents either surplus or Deficit. (State True or False)

Answer 1

TRUE.....

IT SHOWS DEFICIT OR SURPLUS

Answer 2

Answer:

True

Explanation:

The final balancing amount of income and Expenditure Account, represents either surplus or Deficit. - True

Income and Expenditure Account is willing to determine an NPO's economic performance. If the revenue side exceeds the expenditure side, the balance figure is surplus, and if the expenditure side exceeds the revenue side, the balance amount is considered a deficit.