Final accounts of not for profit orgainsation includes........

Receipt and Payment account Income and Expenditure account Trading account Both (a) and (b)

Both (a) and (b)

The final accounts of a ‘not-for-profit organisation’ include:- (i) Receipt and Payment Account (ii) Income and Expenditure Account, and (iii) Balance Sheet. The Receipt and Payment Account is the summary of cash and bank transactions which helps in the preparation of Income and Expenditure Account and the Balance Sheet.