State whether the following statements are True or False with reasons.

1.	State whether the following statements are True or False with reasons.Every year ‘Not for Profit’ concerns, prepares Income and Expenditure Account.
Answer» This statement is True. To get the idea of sufficient income, other expenditure, for smooth run of concern, every year ‘Not for Profit’ concern prepares Income and Expenditure Account.

State whether the following statements are True or False with reasons.Every year ‘Not for Profit’ concerns, prepares Income and Expenditure Account.

Answer»

This statement is True.

To get the idea of sufficient income, other expenditure, for smooth run of concern, every year ‘Not for Profit’ concern prepares Income and Expenditure Account.

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State whether the following statements are True or False with reasons.Every year ‘Not for Profit’ concerns, prepares Income and Expenditure Account.

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