Which of the following statements is not true o... - WAEC Accounting 1991 Question
Which of the following statements is not true of a non-profit making organization?
A
income and expenditure account is prepared
B
income and expenditure account excludes accruals and prepayments
C
Income and expenditure account excludes capital receipts and capital payments
D
receipts and Payments account is a substitute for expenditure account
correct option: d
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