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
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The correct answer is A. Income and expenditure account

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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