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A statement that records the income and expenditure of an organization such as a charity,whose main purpose is not the generation of profit.
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∙ 12y ago
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Is credit income or expenditure?
Credit is neither an income or an expenditure. It becomes an expenditure when you use it. expenditure
What do you mean by income over expenditure or expenditure over income?
income over expenditure is profitexpenditure over income is loss
What is the difference between income and expenditure incurred?
Inflow of money is income . Outflow of money is expenditure
What is between revenue and expenditure?
revenue is income and expenditure is an expense
What is the difference between capital income and capital expenditure?
Income is money coming in, expenditure is money going out (spending).
Is it true for an economy as a whole. income equals expenditure because the income of the seller must be equal to the expenditure of the buyer?
Yes
Which financial statement summarises income and expenditure?
income statement
Is saving an injection into and investment a leakage from the income expenditure stream?
Savings are a leakage from the income expenditure stream because they drain on the economy
What is the expenditure of a company whose income for 1 year is Rs108000 and has a profit of 45 percent?
Income is Rs108000. If profit is 45%, then expenditure is 55% Hence expenditure is 55% of Rs108000, or Rs59400.
Distinquish between savings and financial surplus?
This is the difference between Income and Expenditure in a non-profit making business, where the income exceeds expenditure
Income and Expenditure Account Meaning?
Income - is any money being paid into the business. Expenditure is anything paid out - from a paper-clip to a company car
What is a principle of basic financial management?
The basic principle is this. Income exceeds expenditure = PROFIT Expenditure exceeds income = LOSS No profit or loss = BREAK-EVEN
