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Answer in one sentence only. Which organisations prepare Income and Expenditure Account? - Book Keeping and Accountancy

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Question

Answer in one sentence only.

Which organisations prepare Income and Expenditure Account?

One Line Answer
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Solution

‘Not for profit’ concern prepares Income and Expenditure Account.

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Chapter 2: Accounts of ‘Not for Profit’ Concerns - Exercise 2.1 (Objective Type Questions) [Page 113]

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Balbharati Book-Keeping and Accountancy [English] Standard 12 Maharashtra State Board
Chapter 2 Accounts of ‘Not for Profit’ Concerns
Exercise 2.1 (Objective Type Questions) | Q 1. E) 2. | Page 113
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