Practicing Success
Which of the following financial statement is prepared by a Not For Profit Organization? |
Receipts and Payment Account Profit and Loss Account Cash Book None of the above. |
Receipts and Payment Account |
Receipts and payment A/c, Income and Expenditure account and balance sheet are prepared by a NPO. Receipts and Payments is a summary of the cash book. Its form is identical with that of simple cash book. |