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easyMCQCUET Accountancy 2023 29 May Shift 22026Accountancy
1 mark

Identify the specific term that indicates the excess of operating Expenditure over Income in the case of a Not-for-Profit Organisation.

  1. A
    Payment
  2. B
    Expenditure
  3. C
    Deficit
  4. D
    Loss

Solution & Step-by-step Explanation

In a Not-for-Profit Organisation (NPO), a standard commercial commercial 'Loss' is termed as a Deficit when revenue expenditures exceed revenue incomes within the Income and Expenditure Account.

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Identify the specific term that indicates the excess of operating Expenditure over Income in the case of a Not-for-Profit Organisation.
A
Payment
B
Expenditure
C
Deficit
D
Loss

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