Write a word / term / phrase which can substitute the statement: An account which records only revenue items in case of Not for Profit Concern.

Q.1 (C) (4) Write a word / term / phrase which can substitute the statement: An account which records only revenue items in case of Not for Profit Concern.

Doubtly Asked 28 Oct 2026 Board exam · March 2026 hsc 12th Save WhatsApp Report

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Answer: Income and Expenditure Account

It records only revenue incomes and expenses of the current year (on accrual basis) and shows a surplus or deficit.

Doubtly AI · 28 Oct 2026 AI-generated · not yet verified Report

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Write a word / term / phrase which can substitute the statement: An account which records only revenue items in case of Not for Profit Concern.

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