Income and Expenditure account is the same as the -------...
Income and Expenditure account is the same as the --------- of a sole trader
balance sheet
trading account
profit and loss account
cash book
Correct answer is C
The income and expenditure account shows the summary of revenue and running cost of a non-profit making organization. It follows the same principles as the profit and loss account of a trading concern.
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Subscriptions received in advance are ...
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Use the following information to answer the given question: SALES LEDGER CONTROL ACCOUNTS \(\be...
Discount allowed N2,000; Bad debts 1,000 Cheque received from customers 24,000 Returns inwards 50...
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A financial plan of action expressed in monetary terms is known as ...