Practicing Success
Practicing Success
CUET Preparation Today
| Select the item that does not appear in the receipt and payment account of a non-for-profit organisation. |
Sale of machinery for cash Subscription received Loss on sale of furniture Payment to creditors |
| Loss on sale of furniture |
| Loss on the sale of furniture is shown in the debit side of the income and expenditure account. On the receipt side only the sale value of machinery. Loss is later calculated and shown in the income and expenditure account. |
