Which of the following statements is not true of a non-profit making organization?
A income and expenditure account is prepared
B income and expenditure account excludes accruals and prepayments
C Income and expenditure account excludes capital receipts and capital payments
D receipts and Payments account is a substitute for expenditure account
Answer is D
Do you need a better understanding of this subject?
Do you need assignment help or homework help, tips and expos on how to pass your exams excellently well in any of your subjects? Click Here To Get Started.
This tutorial class is limited to 250 students only. JOIN OTHER STUDENTS NOW ON TELEGRAM
