Which of the following serves the same purpose as the income and expenditure account of…

Which of the following serves the same purpose as the income and expenditure account of a non-trading organization?
  • A.
    trading account
  • B.
    profit and loss account
  • C.
    balance sheet
  • D.
    income distribution account
  • E.
    appropriate account
Correct Answer: Option B
Explanation
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