The Income and Expenditure Account is a nominal account prepared by non-profit organizations to determine their surplus or deficit. Here are the statements related to the Income and Expenditure Account:

(A) Provides opening and closing cash balances: No, the Income and Expenditure Account does not provide information about opening and closing cash balances. These details are typically found in the Cash Flow Statement or the Receipts and Payments Account for non-profit organizations.

(B) Prepared on accrual basis of accounting: Yes, the Income and Expenditure Account is prepared on the accrual basis of accounting, where incomes and expenses are recorded when they are earned or incurred, not necessarily when cash is received or paid.

(C) Records incomes of revenue nature only: Yes, the Income and Expenditure Account records incomes of revenue nature only. It excludes capital receipts and capital expenditures.

(D) Records expenditures of revenue as well as capital nature: No, the Income and Expenditure Account records expenditures of revenue nature only. Capital expenditures are recorded in the Balance Sheet.

(E) Records non-cash transactions such as depreciation: Yes, the Income and Expenditure Account records non-cash transactions such as depreciation. Non-cash expenses are considered when calculating the surplus or deficit.

Therefore, the correct answer is:

(3) (B), (C), and (E) only