Chapter: Accounts of 'Not for Profit' Concerns· Book-Keeping & Accountancy

Do you agree or disagree with the following statement: ‘Not for Profit’ concerns do not prepare Balance Sheet.

Q.1 (B) (1) Do you agree or disagree with the following statement: ‘Not for Profit’ concerns do not prepare Balance Sheet.

Doubtly Asked 29 Oct 2026 Board exam · March 2024 hsc 12th Save WhatsApp Report

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Answer: Disagree

Not for Profit concerns prepare a Receipts and Payments Account, an Income and Expenditure Account and a Balance Sheet at the end of the year. The Balance Sheet shows their assets, liabilities and Capital Fund.

Doubtly AI · 29 Oct 2026 AI-generated · not yet verified Report

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Do you agree or disagree with the following statement: ‘Not for Profit’ concerns do not prepare Balance Sheet.

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