One of the options below have the same features as the profit and loss account…

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Accounts - Principles of Accounts JAMB 2017

One of the options below have the same features as the profit and loss account in non-profit organization

  • Income and expenditure account checkmark
  • profit and loss account
  • receipts and payment account
  • Non profit account

The correct answer is: A

Explanation

Income and expenditure : This is the type of account that operate same features as the profit and loss account it takes in consideration all arrears and prepayments
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