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Who prepare income and expenditure account and for what?

Answers were Sorted based on User's Feedback



Who prepare income and expenditure account and for what?..

Answer / a.madhu sudhan rao

Income & Expenditure account prepared by the Non Profit
Organisations like Hospitals, Schools , Colleges , Trusts ,
SOcieties

This Organisations prepare Receipts & Payments and Income
and Expenditure because their main objective is Services to
People not for Profit

Is This Answer Correct ?    89 Yes 8 No

Who prepare income and expenditure account and for what?..

Answer / karthik

Income and expenditure a/c is prepared by a Non-Profit-
organisation to know how much they spends and earns for the
particualar year of p'cular organisation.

ex: Hopitals, Schools, colleges.cetc

Is This Answer Correct ?    32 Yes 3 No

Who prepare income and expenditure account and for what?..

Answer / guest

non profirable concernt

Is This Answer Correct ?    19 Yes 4 No

Who prepare income and expenditure account and for what?..

Answer / ramana

it is prepared by the Accountant, to show the financial
years in and out's of the money in the process of busines
transactions.

Is This Answer Correct ?    19 Yes 6 No

Who prepare income and expenditure account and for what?..

Answer / b.narasimha rao

INCOME AND EXPENDITURE ACCOUNTS PREPARED BY THE ACCOUNTANT.
TO KNOW THE HOW MUCH INCOME EARNED BY THE COMPANY DURING
THE ACCOUNTING PERIOD. THIS ACCOUNT USE FOR PLAN THE INCOME
IS INCREASE AND EXPENSES ARE DECREASE

Is This Answer Correct ?    26 Yes 16 No

Who prepare income and expenditure account and for what?..

Answer / nalini reddy

1)"income is the sum of all the wages, salaries, profits,
interests payments, rents and other forms of earnings
received... in a given period of time.'' For firms, income
generally refers to net-profit: what remains of revenue
after expenses have been subtracted.

2)Capital expenditures (CAPEX or capex) are expenditures
creating future benefits. A capital expenditure is incurred
when a business spends money either to buy fixed assets or
to add to the value of an existing fixed asset with a
useful life that extends beyond the taxable year.

And prepared by Accounts department.

Is This Answer Correct ?    13 Yes 4 No

Who prepare income and expenditure account and for what?..

Answer / guest

Accountant

Is This Answer Correct ?    10 Yes 2 No

Who prepare income and expenditure account and for what?..

Answer / birendra kr tiwari

income and expenditre accouts is prepared by not-profit organisation becuse they work for social servies

Is This Answer Correct ?    6 Yes 1 No

Who prepare income and expenditure account and for what?..

Answer / manipriya

income and expenditure account is prepared by adopting accrual principle of accounting..

Is This Answer Correct ?    0 Yes 1 No

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