Match List – I with List – II. LIST I LIST II A. Receipt and payment…

The correct answer is Option (3) → A-III, B-I, C-II, D-IV

A not-for-profit organisation prepares three statements, and each has its own role.

(A) Receipt and payment account — this matches (III) Summary of cash book. It shows the cash and bank receipts and payments of the year under various heads.

(B) Income and Expenditure Account — this matches (I) Akin to trading and profit and loss account. It records the incomes and expenses of the year on accrual basis and shows a surplus or deficit.

(C) Balance sheet — this matches (II) Financial position. It shows the assets, liabilities and capital fund at the end of the year.

(D) Revenue Item — this matches (IV) Printing and stationery. It is a regular running expense, so it goes to the expenditure side of the Income and Expenditure Account.

Note: This question is from the pre-rationalised NCERT book. The topic is not there in the latest NCERT book (2026-27), but it is still in the CUET 2026 syllabus, so do not skip it.