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Question
Not for Profit Concerns prepares _________ account instead of Profit and Loss account to know the result.
Options
Trading
Income and Expenditure
Cash
Receipt and Payments
MCQ
Fill in the Blanks
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Solution
Not for Profit Concerns prepares Income and Expenditure account instead of Profit and Loss account to know the result.
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Chapter 2: Accounts of ‘Not for Profit’ Concerns - Exercise 2.1 (Objective Type Questions) [Page 112]
