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Q22) What statement is prepared in a not-for-profit entity that is analogous to the Income statement in a for-profit entity? Q23) A for-profit entity has

Q22) What statement is prepared in a not-for-profit entity that is analogous to the Income statement in a for-profit entity?

Q23) A for-profit entity has a concept of owner's equity. What is the analogous concept in a nonprofit entity?

Q24) ) Under what circumstances can not a profit entity have revenue significantly in the express of expenditures?

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