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प्रश्न
It contains both capital and revenue items.
विकल्प
Receipts and Payments Account
Income and Expenditure Account
Balance Sheet
None of these
उत्तर
Receipts and Payments Account
Explanation:
The Receipts and Payments Account includes both capital and income elements. It shows all cash receipts and payments made during an accounting period, whether they are capital or revenue.
APPEARS IN
संबंधित प्रश्न
Write any two features of the Receipt and Payment 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.
The primary objective of preparing this Account is to find out the cash position, opening and closing balances of cash in hand and at bank.
It alerts the management of a non-trading organisation about decline in cash receipts and increase in cash payments.
Its balance at the end shows the cash in hand and at bank (or overdraft) at the end of the year.
Give one difference between Receipts and Payments Account and Cash Book.
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.
