Income and Expenditure Account is similar to the _____ account of Trading Concern. - Book Keeping and Accountancy

Income and Expenditure Account is similar to the _____ account of Trading Concern.

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Income and Expenditure Account is similar to the Profit and loss account of Trading Concern.

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

Chapter 2 Accounts of ‘Not for Profit’ Concerns
Exercise 2.1 (Objective Type Questions) | Q 1. D) 5. | Page 113