Accountancy, asked by avinashkumarbth9511, 23 hours ago

Although Income and Expenditure Account prepared by a No-for-Profit Organisation and Profit and Loss Account prepared by an enterprise are prepared on the same principles of accounting why is it that in the case of Not- for-Profit Organisation it is termed as income and expenditure Account.

Answers

Answered by alsazia105

0

Answer:

Organisation is similar to Profit and Loss Account

Previous Question

Next Question

Similar questions

Math, 12 hours ago

= n(A) = 15, n(A + B) = 29, n( AB) = 7. Complete the following activity to find the value of n(B).

Geography, 12 hours ago

draw the domain of the earth and give a brief explanation...

English, 12 hours ago

how I can describe Baguio in times of COVID-19 in phrase 1. 2. in a clause 1. 2. in a sentence 1. 2.

Accountancy, 23 hours ago

How are the following items shown in a company's Balance Sheet as at 31st March, 2019 as per Schedule III of the Companies Act, 2013? General Reserve (since 31st March, 2018) Rs 3,00,000, Surplus, i.e., Balance in Statement of Profit and Loss (Debit) as at 31st March, 2019 Rs 2,00,000.

Accountancy, 23 hours ago

Average profit earned by a firm is Rs. 80,000 which includes undervaluation of stock of Rs. 8,000 on an average basis. The capital invested in the business is Rs. 8,00,000 and the normal rate fo return is `8%`. Calculate goodwill of the firm on the basis of 7 times the super profit.

English, 8 months ago

Palli puppantu podi tamil katturai...

Hindi, 8 months ago

Plz tell what is the answer...

History, 8 months ago

Find the odd man out: Pune, Supe, Chakan , Bengaluru. Torana , Murumbdev , Sinhgad , Sindhudurg. Portuguese, Siddi, British, Mughals.