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Accounts of ‘Not for Profit’ Concerns — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyAccounts of ‘Not for Profit’ Concerns1 Mark
Question
To which account ‘Surplus’ or ‘Deficit’ is transferred?
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Answer

‘Surplus’ or ‘Deficit’ is transferred to the Balance Sheet by adding it or subtracting it from Capital Fund.

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