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Tag: Accountancy

Why is Profit and Loss Appropriation Account prepared?

Class 12 Accountancy accounts
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List the items which may be debited or credited in capital accounts of the partners when:

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Why it is considered desirable to make the partnership agreement in writing?

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Define Partnership Deed.

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What is a Receipt and Payment Account? How is it different from Income and Expenditure Account?

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Distinguish between Receipts and Payments Account and Income and Expenditure Account.

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What is meant by Capital Fund? How is it calculated?

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Distinguish between profit and not-for-profit organizations.

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Show the treatment of items of Income and Expenditure Account when there is a specific fund for those items.

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Show the treatment of the following items by a not-for-profit organisation:

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Explain the basic features of Income and Expenditure Account and of Receipt and Payment Account?

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“Income and Expenditure Account of a Not-for-Profit Organisation is akin to Profit and Loss Account of a business concern”. Explain the statement.

Class 12 Accountancy accounts
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