Concept:Not-for-profit organisations prepare an income and expenditure account, while profit-making companies prepare an equivalent statement to show financial performance.
Explanation:The income and expenditure account records all revenue earned and expenses incurred during a period, similar to a business's profit and loss account.
A limited liability company aims to earn profit, so it prepares a profit and loss account instead of an income and expenditure account.
The cash book and receipts and payments account are not equivalent because they record actual cash transactions, not accrued income and expenses.
The appropriation account deals with the distribution of profit after net profit is calculated.
Therefore, the correct match for an income and expenditure account is the profit and loss account.
Answer:D. profit and loss account.