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Accounts of ‘Not for Profit’ Concerns — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyAccounts of ‘Not for Profit’ Concerns1 Mark
Question
Which final accounts do the ‘Not for Profit’ concern prepare?
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Answer

‘Not for Profit’ concern prepare Income and Expenditure Account and Balance Sheet as their final accounts.

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