Which of the following financial statements are prepared by a not-for-profit organisation?

Correct option is C

A not-for-profit organisation (NPO) prepares financial statements that reflect its receipts, payments, surplus/deficit, and financial position. As per standard accounting practices for NPOs, the following statements are prepared:
1. Receipt and Payment Account – A cash book summary showing all receipts and payments during the year (both capital and revenue in nature).
2. Income and Expenditure Account – Similar to a profit and loss account, it is prepared on accrual basis, showing income, expenses, and resulting surplus or deficit.
3. Balance Sheet – Shows the financial position at year-end including assets, liabilities, and capital fund.
Since all three are essential components of NPO reporting, the correct answer is: