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 The answer to the question is: C. income and expenditure account When a non-profit organization prepares its accounts using the accruals basis of reporting, the statement that…