Where a non-profit making organization prepares the account using accruals basis of reporting, the statement…

Where a non-profit making organization prepares the account using accruals basis of reporting, the statement showing how well the organization is doing is the
  • A.
    appropriation account
  • B.
    balance sheet
  • C.
    income and expenditure account
  • D.
    receipts and payment account
Correct Answer: Option C
Explanation
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