Advertisements
Advertisements
प्रश्न
Give one difference between Receipts and Payments Account and Cash Book.
उत्तर
| S. No. | Basis of Distinction | Receipts and Payments Account | Cash Book |
| 1. | Purpose | To facilitate preparation of Income and Expenditure Account and Balance sheet. | To provide a permanent record of all cash transaction and to know cash balance at the end. |
| 2. | Preparing entity | It is prepared by non-trading organisations only. | It is prepared by both trading and non-trading organisations. |
APPEARS IN
संबंधित प्रश्न
State five uses of Receipts and Payments account.
It is a summary of cash transactions. It is prepared to ascertain the cash balance at the end of the accounting year.
In receipt and payment account opening balance of cash in hand, cash at bank and all cash receipts are shown on the ______ side.
All cash payments are recorded on the ______ side of the receipt and payment accounts.
Receipt and payment account has the following limitation(s).
Its balance at the end shows the cash in hand and at bank (or overdraft) at the end of the year.
Give two/three uses of Receipts and Payments Account.
A receipts and payments account is a nominal account. Justify a reason either for or against.
Mention any two features of Receipts and Payments Account.
What is Receipts and Payments Account?
