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प्रश्न
It is a summary of cash transactions. It is prepared to ascertain the cash balance at the end of the accounting year.
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 is a summary of all cash transactions made by an organization over a specific period, usually an accounting year.
APPEARS IN
संबंधित प्रश्न
Write any two features of the Receipt and Payment Account.
In receipt and payment account opening balance of cash in hand, cash at bank and all cash receipts are shown on the ______ side.
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.
Receipt and payment account has the following limitation(s).
Receipt and Payment account is a _____ account.
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.
What is Receipts and Payments Account?
