Income and Expenditure Account: Learning Objectives: Define and explain income and expenditure account. What is the purpose of preparing income and expenditure account? Example and format of Income and expenditure account Definition and Explanation: Income and expenditure account is merely another name for profit and
A intended imbursement which is given to a person for facilities to which fees are not legally or usually required. Honoraria are typically used for the help to cover costs for volunteers or guest speakers.