One of the options below have the same features as the profit and loss account...
FINANCIAL
JAMB 2017
One of the options below have the same features as the profit and loss account in non-profit organization
- A. Income and expenditure account
- B. profit and loss account
- C. receipts and payment account
- D. Non profit account
Correct Answer: A. Income and expenditure account
Explanation
Income and expenditure : This is the type of account that operate same features as the profit and loss account it takes in consideration all arrears and prepayments
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