The correct answer is: B. Balance sheet
A balance sheet is a financial statement that reports a company’s assets, liabilities, and equity at a specific point in time. It is a snapshot of a company’s financial position.
A profit and loss account, also known as an income statement, is a financial statement that reports a company’s revenues, expenses, and net income for a specific period of time. It is a measure of a company’s profitability.
A receipt and payment account is a financial statement that reports a company’s cash receipts and cash payments for a specific period of time. It is a record of a company’s cash flow.
An income and expenditure account is a financial statement that reports a non-trading organization’s income and expenditure for a specific period of time. It is a measure of a non-trading organization’s financial performance.
Therefore, the balance sheet is not prepared to ascertain the income of a non-trading concern.