Excess of income over expenditure of non trading concern is called _______
A)Profit
B)deficit
C)Surplus
D)Loss

Name: Excess of income over expenditure of non trading concern is called _______ A)Profit B)deficit C)Surplus D)Loss
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Question

Quizplus · Accepted Answer

Non-trading concerns, such as charities or clubs, refer to their excess of income over expenditure as a surplus, not profit, because their primary aim is not to make a profit but to provide services or meet their organizational goals.

Excess of Income Over Expenditure of Non Trading Concern Is