The income and expenditure account of a club is the same as
FINANCIAL
JAMB 2015
The income and expenditure account of a club is the same as
- A. single entry account
- B. a profit and loss account
- C. a trading account
- D. a cash book
Correct Answer: B. a profit and loss account
Explanation
this is because the income and expenditure account just like the profit and loss account shows the income to ascertain surplus or deficit.
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