Commercial Applications
…………… depicts the Capital fund of the organization.
- Profit and Loss Account
- Trading Account
- Balance Sheet
- Nominal Account
Answer
Balance Sheet
Reason — The Balance Sheet of a non-trading organisation depicts the Capital Fund of the organisation. The Capital Fund appears on the liabilities side and is computed by adding surplus (or subtracting deficit) from the Income and Expenditure Account, plus additions like life membership fees, entrance fees, legacies and donations to the opening balance.
Related Questions
Receipt and Payment account is a …………… account.
- Real
- Nominal
- Personal
- Trading
Which of the following is not a feature of Balance Sheet?
- It is statement
- Reflects profit-loss of an organization
- It shows Capital Fund of the organization
- It shows financial position of the organization
Identify which of the following does not have an opening balance.
- Balance sheet
- Income and Expenditure
- Receipts and Payment account
- Profit and Loss account
…………… is a summary of cash transactions.
- Income and Expenditure Account
- Balance Sheet
- Profit and Loss Account
- Receipts and Payment Account