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What is income and expenditure account? Features

The income and expenditure account is prepared by a nontrading concern to revea…

Dishonour Of A Cheque | Meaning, Reasons, Remarks

The bank should pay the amount mentioned on the cheque as soon as it is prese…

Receipt And Payments Account

Receipts and payment account are a summary of cash receipts and payments receiv…

Provision | Meaning, Objective

A provision is the sum of amount set aside by charging against the profit ans l…

What is Secret Reserve? Meaning, Objective, Advantages, Disadvantages

Meaning Of Secret Reserve  A reserve created with a view to strengthening the f…

How sales and sales return taken in journal

When goods are sold in a cash, the sales account is credited. Cash belongs to …

Ledger Account and It's Importance

LEDGER ACCOUNT To help reveal the financial position: The ledger also contains …

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